Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 152

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 152
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 license
or qualification, and have all corporate power and authority necessary to own or hold their respective properties and to conduct their
respective businesses as described in the Commission Documents, except where the failure to be so qualified or in good standing or have
such power or authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to
have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise),
prospects, shareholders’ equity or results of operations of the Company and its Subsidiaries taken as a whole, or prevent or materially
interfere with consummation of the transactions contemplated hereby (a “Material Adverse Effect”).

Section 5.2. Subsidiaries.
The subsidiaries described in the Company’s most recent Annual Report on Form 20-F, or as disclosed in the Commission Documents(collectively,
the “”), are the Company’s only significant subsidiaries (as such term is defined in Rule 1-02 of
Regulation S-X promulgated by the Commission). Except as set forth in the Commission Documents, the Company owns, directly or indirectly,
all of its equity interests in the Subsidiaries free and clear of any lien, charge, security interest, encumbrance or other restriction,
and all its equity interests in the Subsidiaries are validly issued and are fully paid, nonassessable.

Section 5.3. Authorization, Enforcement. The Company has the requisite corporate power and authority to enter into and perform its obligations under each
of the Transaction Documents to which it is a party and to issue the Shares and the Commitment Fee warrant in accordance with the terms
hereof and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection
with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior to the delivery of any VWAP Purchase
Notice), the execution, delivery and performance by the Company of each of the Transaction Documents to which it is a party and the consummation
by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action, and
no further consent or authorization of the Company, its Board of Directors or its shareholders is required. Each of the Transaction Documents
to which the Company is a party has been duly executed and delivered by the Company and constitutes a valid and binding obligation of
the