Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 51

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 51
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 20%. We currently do not have any transfer restriction in our articles of association. If we own shares that
exceed the threshold of 10% of our share capital, the excess must be sold or cancelled by means of a capital reduction within a reasonable
time.

Shares held by us or our subsidiaries
are not entitled to vote at the general meeting of shareholders but are entitled to the economic benefits applicable to the shares generally,
including dividends and pre-emptive rights in the case of share capital increases.

Swiss law and/or our articles
of association do not impose any restrictions on the exercise of voting or any other shareholder rights by shareholders residing outside
of Switzerland.

Notification and Disclosure of Substantial Share Interests

The disclosure obligations
generally applicable to shareholders of Swiss corporations under the Swiss Financial Market Infrastructure Act do not apply to us since
our shares are not listed on a Swiss exchange. Similarly, the Swiss takeover regime imposes a duty on any person or group of persons who
acquires more than one-third of a company’s voting rights to make a mandatory offer for all of the company’s outstanding listed
equity securities. However, these protections are applicable only to issuers that list their equity securities in Switzerland and, because
our Common Shares are listed exclusively on Nasdaq, is not applicable to us.

Warrants

The Company has warrants that
are registered under Section 12 of the Exchange Act. The Company issued 5,542,168 of such warrants in February 2021 in conjunction with
its initial public offering. The warrants entitle the registered holder to purchase Common Shares at a price equal to $4.15 per share,
subject to adjustment as discussed below, immediately following the issuance of such warrants and terminating at 5:00 p.m., New York City
time, five years after their issuance. Warrants that have been exercised in the meantime are not yet reflected in the articles of association
of the Company by means of an increase of the issued share capital and the respective reduction of the conditional share capital.

The exercise price and number
of Common Shares issuable upon exercise of the warrants may be adjusted in certain circumstances, including in the event of a stock dividend
or recapitalization, reorganization, merger or consolidation. Except by virtue of such holder’s ownership of our Common Shares,
the holder of warrants does not have rights or privileges of a shareholder, including any voting rights, until the holder exercises such
warrant.

The warrants were issued in
registered form under a warrant agency agreement