Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 68

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 68
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30, 2025, the Down Round Provision embedded in the October 2024 Preferred Shares and PPCs was triggered twice. Once in January 2025 with the sale of common shares at $ 3.10(see below) and by the March 2025 SPA which resulted in the conversion price of the outstanding Preferred Shares or PPCs being reduced from $ 3.10to $ 1.65. The impact of the triggering of these Down Round Provisions is disclosed in more detail below in the subheading titled Deemed Dividends. In connection with the January 2025 trigger, the Company issued 360,000PPCs to the preferred shareholders in the October 2024 issuance. During the six months ended June 30, 2025, 551,532PPCs were converted into 754,384common shares. As of June 30, 2025 and December 31, 2024, the total issued and outstanding Preferred Shares and PPCs were 1,249,904and 583,198and 1,249,904and 206,452, respectively. As of June 30, 2025, the PPCs issued and outstanding of 583,198consist of 14,920issued on October 9, 2024 with the Debt SPA with a stated value of $ 74,003convertible into 44,850common shares and the 568,278issued in the March 2025 SPA issuable into 568,278common shares. As of June 30, 2025, there are 1,863,032common shares issuable upon the conversion of the issued and outstanding Preferred Shares and PPCs. Pursuant to the Company’s articles of association, PPCs accrue dividends on the stated value at a rate of 8%. As of June 30, 2025, accrued dividends totaled $ 126,367which has been included in other accrued liabilities on the accompanying balance sheet. Annex A-15 NLS PHARMACEUTICS LTD.
NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS Treasury Shares per the Swiss Corporate Law The Company may hold common shares in treasury per Swiss Corporate Law and may consider issuing additional common shares to the Exchange Agent during a capital increase. Swiss law limits the Company’s right to purchase and hold its own shares. The Company and its subsidiaries may purchase shares only if and to the extent that (i) freely disposable equity capital is available in