Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 245

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 245
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 the investor, within 15 days following
the Company meeting certain conditions, including the receipt of shareholder approval and the Common Shares trading for at least ten
consecutive trading days above the purchase price of $3.10, which corresponds to an approximate 15% premium. As of the date of this
annual report, the condition for the second tranche has not yet occurred. The Company uses and intends to further use the net
proceeds from the offering for working capital and general corporate purposes.

On
March 27, 2025, we entered into a securities purchase agreement, or the March 2025 SPA, with three accredited investors. Pursuant to
the terms of the March 2025 SPA, the Company agreed to issue and sell to the investors, in a private placement offering, or the March
2025 Offering, 1,212,122 Preferred Shares with a conversion price of $1.65 per share, for aggregate gross proceeds of $2 million. Pursuant
to the terms of the March 2025 SPA, the investors may purchase up to $1 million of additional Preferred Shares on identical terms as
the initial closing, subject to the Company obtaining shareholder approval which, as of the date of this annual report, has not yet been
sought. The March 2025 Offering closed on March 28, 2025.

The
initial closing of the March 2025 Offering resulted in gross proceeds to the Company of to $2 million. The Company intends to use the
net proceeds from the March 2025 Offering for working capital and general corporate purposes, including for expenses relating to the
Merger.

Further,
on March 31, 2025, the Company entered into a Common Shares Purchase Agreement with Alpha Capital Anstalt, or Alpha, or the Facility
SPA, relating to a committed equity facility. Pursuant to the Facility SPA, the Company has the right from time to time at its option
to sell to Alpha up to $25.0 million of the common shares, subject to certain conditions and limitations set forth in the Facility SPA.

Upon
the initial satisfaction of the conditions to Alpha’s obligation to purchase common shares set forth in the Facility SPA, or the
Commencement, including that a registration statement registering the resale by Alpha of the common shares under the Securities Act that
may be sold to it by the Company under the Facility SPA, or the Initial Resale Registration Statement, is declared effective by the SEC
and a final prospectus