Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 54

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 54
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 transfer would not be subject to approval of the Company and
no legal opinion of legal counsel of the pledgee, secured party or pledgor shall be required in connection therewith. Further, no notice
shall be required of such pledge. At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation
as a pledgee or secured party of Securities may reasonably request in connection with a pledge or transfer of the Securities, including,
if the Securities are included for registration in a registration statement, the preparation and filing of any required prospectus supplement
under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of selling
stockholders thereunder .

(d) . Certificates
evidencing the Underlying Shares shall not contain any legend (“”) (including the legend set forth
in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security
is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying
Shares are eligible for sale under Rule 144 without information requirements, or (iv) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The
Company shall cause its counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent or the Purchaser promptly
after the Effective Date, on each date a registration statement is declared effective by the Commission, if required by the Transfer Agent
to effect the removal of the legend hereunder, or if requested by a Purchaser, respectively. If all or any Preferred Shares are converted
at a time when there is an effective registration statement to cover the resale of the Underlying Shares, or if such Underlying Shares
may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144 without the
requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares
and without volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the Securities
Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be
issued free of all legends. The Company agrees that following such time as such legend is no