Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 75

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 75
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from $315,000 to $385,000.

<div align='center'>39</div>

4.30 .

(a) .

(i) . Subject to the provisions of Section 4.30(a)(vii), at any time or times on or after the Closing Date, each Purchaser of a Preferred
Share (each, a “Purchaser” and collectively, the “Purchasers”) shall be entitled to convert any
whole number of Preferred Shares into validly issued, fully paid and non-assessable shares of Common Shares in accordance with 4.30(a)(ii),
and, for this purpose, in accordance with and subject to the legal requirements of the applicable Swiss laws, the Parties agree that the
Purchasers shall have the right to sell their Preferred Shares to the Company, and the Company has the obligation to acquire such Preferred
Shares from the Purchasers at the purchase price as set forth in and subject to the terms and conditions of this Agreement. The Parties
agree that the purchase price may be set-off against the Purchasers' obligation to pay and settle the subscription price of the Common
Shares, as determined in accordance with 4.30(a)(ii).

(ii) . Each Preferred Share shall be convertible, at any time and from time to time at the option of the Purchaser thereof,
into that number of Common Shares (subject to the limitations set forth herein) determined by dividing the Stated Value of such Preferred
Shares by the Conversion Price (the “Conversion Ratio”). Purchasers shall effect conversions by providing the Company
with the form of conversion notice attached hereto as Annex A (a “Conversion Notice”). The date on which such conversion
is to be effected, which date may not be prior to one Business Day after (and not including) the date of reception by the Company of the
Conversion Notice, delivered by the applicable Purchaser by .pdf via email (such date, the “Conversion Date”) shall
be set forth in the Conversion Notice. The Company shall be entitled to rely on any Conversion Notice if it is received from the notice
address the Company is provided in connection with such transfer. If no Conversion Date is specified in a Conversion Notice, the Conversion
Date shall be the date that such Conversion Notice to the Company is deemed delivered hereunder. No ink-original Conversion Notice shall
be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Conversion Notice form be required.
The calculations and entries set forth