Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 66

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 66
---
 the foregoing or equity with price reset rights (subject to adjustment
for stock splits, distributions, dividends, recapitalizations and the like) (collectively, a “”).
For purposes hereof, “” shall include any transaction involving a written agreement between the
Company and an investor or underwriter whereby the Company has the right to “put” its securities to the investor or underwriter
over an agreed period of time and at an agreed price or price formula, and “Equity ”
shall include: (A) any debt or equity securities which are convertible into, exercisable or exchangeable for, or carry the right to receive
additional Common Shares or Common Shares Equivalents or any of the foregoing at a price that can be reduced either (1) at any conversion,
exercise or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for Common Shares at
any time after the initial issuance of such debt or equity security, or (2) with a fixed conversion, exercise or exchange price that is
subject to being reset at some future date at any time after the initial issuance of such debt or equity security due to a change in the
market price of the Company’s Common Shares since date of initial issuance, or upon the issuance of any debt, equity or Common Shares
Equivalent, and (B) any amortizing convertible security which amortizes prior to its maturity date, where the Company is required or has
the option to (or any investor in such transaction has the option to require the Company to) make such amortization payments in Common
Shares which are valued at a price that is based upon and/or varies with the trading prices of or quotations for Common Shares at any
time after the initial issuance of such debt or equity security (whether or not such payments in shares are subject to certain equity
conditions). For purposes of determining the total consideration for a convertible instrument (including a right to purchase equity of
the Company) issued, subject to an original issue or similar discount or which principal amount is directly or indirectly increased after
issuance, the consideration will be deemed to be the actual net cash amount received by the Company in consideration of the original issuance
of such convertible instrument. For so long as the Preferred Shares are outstanding, the Company will not, without the consent of a Majority
in Interest, issue any Common Shares or Common Shares Equivalents to officers, directors, and employees of the Company unless such issuance
is an Exempt Issuance as