Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 834

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 834
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 the date of receipt of a written notice of the said violation; (e) non -paymentof the loan on the due date in accordance with the convertible loan agreement (hereinafter, “Causes for Immediate Repayment”). Insofar as a cause for immediate repayment has occurred and the Company does not make the loan repayment within 3 business days from the date of receipt of said demand, the investors will be entitled to demand the repayment of the loan through conversion according to the lower of (a) a Company valuation of USD $7 million (pre -money) on the basis of issued and paid -upcapital; (b) a 20% discount on the average price of the Company’s share in the 30 trading days preceding the date of the conversion notice (hereinafter, the “Conversion of the Loan upon an Immediate Repayment Cause”). 7.The completion of the convertible loan agreement depends on the fulfillment of the conditions precedent, the main ones of which are detailed below: A.Obtaining the Stock Exchange’s approval for the issuance of all the Offered Securities; B.Obtaining the approval of the general meeting of the Company’s shareholders; C.Amending the Company’s Articles of Association in such a way that the maximum number of directors that serve on the Company’s Board of Directors will be reduced to only 6 directors and receiving letters of resignation from 2 directors; Annex G-27

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE 15: — CONVERTIBLE LOAN AND CONVERSION COMPONENT OF CONVERTIBLE LOAN AND WARRANTS (cont.) D.The Stock Exchange’s approval. On December 13, 2023, all the conditions precedent for the completion of the investment transaction in the form of a convertible loan with the Company’s shareholders were met. Until December 21, 2023, the investors transferred a total of USD $1,250 thousand (NIS 4,540 thousand), gross, and the issuance expenses totaled USD $55 thousand. In accordance with the embedded derivative measurement guidance, as set forth in IFRS9, the embedded derivative must be separated from the host contract by measuring the fair value of the embedded derivative and attributing the remaining consideration to the host contract. The embedded derivative component must be measured every period at fair value and the changes are then attributed to profit or loss (hereinafter, “Fair Value Through Profit or Loss”). As a result, when the convertible loan was initially recognized, the Company measured the fair