Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 108

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 108
---
result from the exercise of the warrants was approved for listing by the TASE on March 12, 2020.

On August 31, 2021, 67,884 Series E2
Warrants were exercised for USD $99 thousand (the exercise price).

On December 31, 2021, 577,882 Series
E2 Warrants, totaling USD $140 thousand, expired.

<div align='center'>F-33</div>

| E. | On April 25, 2021, after receiving the approval of the Company’s Board of Directors on April 21,                                          
 2021, the Company completed an issuance in the amount of USD $6.85 million by way of a private placement led by Clover Wolf, Clover Alpha 
 (hereinafter, “Clover”) and Alpha Capital Anstalt - European investment fund, for USD $4.6 million and USD $2 million respectively,       
 as well as a total of USD $0.22 million by 2 additional investors (hereinafter, the “Consideration”).                                     |

Below are the primary terms of the private
placement:

7,861,752 Shares, as well as 7,861,752
non-marketable warrants for the purchase of up to 7,861,752 Shares, which were to be issued in three series; 3,930,876 Series A warrants;
1,965,438 Series B1 warrants; and 1,965,438 Series B2 warrants, under the conditions detailed below:

Each warrant of Series A would be exercisable
for one Share, starting from the date of issuance and until July 31, 2022, for an exercise price of NIS 3.5 (USD $1.08).

Each warrant of Series B1 would be exercisable
for one Share, starting from the date of issuance and until April 3, 2023, for an exercise price of NIS 4.4 (USD $1.35)

Each warrant of Series B2 would be exercisable
for one Share, starting from the occurrence of a vesting event until April 30, 2023, against a cash payment of an exercise price of NIS
4.4 (USD $1.35);

A “vesting event” was defined
as the Company’s completion of a public financing process in an amount not less than NIS 10,000,000 (USD $3,113,000) (net of