Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 796

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 796
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 USD $0.7. The vesting of the June Options shall accelerate in certain cases, such as the sale of the Company, the Company’s listing on the Nasdaq Capital Market, or raising over USD $10 million in equity. The June Options’ exercise period is 10 years. The June Options’ value of USD $381 thousand was determined according to the Black -Scholesmodel based on the following assumptions:

| Dividend yield for the share (%)    |     |     — |   |
| Expected share price volatility (%) |     |    65 | % |
| Risk-free interest rate (%)         |     |   3.1 | % |
| Share price (USD)                   |     | 0.475 |   |

E.On March 21, 2024, the Shareholders’ Meeting approved the grant of equity compensation to Mr. Assaf Shiloni, the Company’s CEO, comprising 139,558 restricted share units (“RSUs”) that will vest into up to 139,558 ordinary shares. The RSUs will vest into shares in 36 equal monthly installments, over a total period of 3 years, commencing on the date of approval of the grant by the Board of Directors. The share units will vest immediately, in part or in full, in the following circumstances: Immediate vesting of 20% of the RSUs that have not yet vested in the event of a cumulative equity raise (including equity from the exercise of warrants) amounting to USD $10 million or more commencing from the date of approval of the grant by the Board of Directors; Immediate vesting of 30% of the restricted share units that have not yet vested upon listing of the Company’s shares for trading in the United States or in the event that the Company merges with a company listed on a U.S. stock exchange; and immediate vesting of all restricted share units that have not yet vested in the event of a change of control. In 2024, expenses of USD $63 thousand were recognized with respect to the grant of these RSUs. In light of the termination of Mr. Assaf Shiloni’s employment, 96,911 of the RSUs expired. F.On March 21, 2024, the Shareholders’ Meeting approved the grant of equity compensation to Mr. Ronen Twito, the Executive Chairman of the Company’s Board of Directors, comprising 209,337 RSUs that will vest into up to 209,337 ordinary shares. The