Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 362

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 362
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 SPA into 725,000 common shares issued and 75,000 anti -dilutioncommon shares issued to satisfy the anti -dilutionrights of the Selling Shareholder under the October Debt SPA; (M)Adjustment of $11,917 to record 360,000 PPCs convertible into common shares issued in addition to anti -dilutioncommon shares referenced above in satisfaction of the anti -dilutionrights of the Selling Shareholder under the October Debt SPA; (N)Adjustment for the six months ended June30, 2024 of $84,292 and $139,481 for the twelve months ended December31, 2023 to accelerate share -basedcompensation expense for NLS options based on IFRS accounting requirements at closing of merger; (O)Elimination of accumulated deficit of NLS Pharmaceuticals of $69,170,622 at closing of merger; (P)Adjustments to reflect the modified par value of $2,995,086 for NLS Common and $69,203 for NLS Preferred Capital Shares as approved on January14, 2025 by the shareholders of the Company from CHF 0.80 to CHF 0.03 per share, effective January17, 2025; (Q)Adjustment for gross cash proceeds of approximately $2,500,000 related to loans and associated warrants converted and exercised at the time of Closing. The loan agreements entered on October16, 2023, from several shareholders include warrants that will be granted to the lenders upon conversion of the loan into shares. The non -marketablewarrants will be issued at a rate equal to 125% of the total loan conversion shares outstanding at the effective time of conversion. The exercise price of the warrants will be equal to a rate of 110% of the conversion share price, and the exercise period will be 42months from the date of their issuance. The lenders have informed the Company of their intention to convert the loan and exercise the warrants prior to the Closing; 199

Adjustment for $755,786 related to conversion of loans from related parties as noted above at closing of merger; Adjustment for $742,751 related to conversion of loans from related parties as noted above at closing of merger; Adjustment for $1,144,985 related to conversion of loans from related parties as noted above at closing of merger; Adjustment to remove $485,111 interest expense related to loans converted as noted above at closing as if merger took place January1, 202