Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 383

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 383
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 share, for aggregate gross proceeds of $2million. Pursuant to the terms of the March 2025 SPA, the
investors may purchase up to $1million of additional Preferred Shares on identical terms as the initial closing, subject to the Company
obtaining shareholder approval. 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 $2million. 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 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 $25.0million of Company Common
Shares, subject to certain conditions and limitations set forth in the Facility SPA.

The purchase price of the Company Common
Shares that the Company elects to sell to Alpha pursuant to the Facility SPA will be95% of the volume weighted average price of the
Company Common Shares during the applicable purchase date on which the Company has timely delivered written notice to Alpha
directing it to purchase Company Common Shares under the Facility SPA.

In connection with the execution of the Facility
SPA, the Company agreed to issue a pre-funded warrant, or the Pre-Funded Warrant, to purchase $250,000in Company Common Shares to Alpha
as consideration for its irrevocable commitment to purchase the Company Common Shares upon the terms and subject to the satisfaction of
the conditions set forth in the Facility SPA.

F-28