Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 283

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 283
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CHASE, OWNERSHIP AND SALE
OF COMMON SHARES, INCLUDING THE EFFECTS OF APPLICABLE STATE, LOCAL, FOREIGN OR OTHER TAX LAWS AND POSSIBLE CHANGES IN THE TAX LAWS.

Subject to the limitations
described in the next paragraph, the following discussion summarizes the material U. S. federal income tax consequences to a “ U. S.
Holder” arising from the purchase, ownership and sale of the common shares. For this purpose, a “ U. S. Holder” is a holder
of common shares or Warrants that is: (1) an individual citizen or resident of the United States, including an alien individual who is
a lawful permanent resident of the United States or meets the substantial presence residency test under U. S. federal income tax laws;
(2) a corporation (or entity treated as a corporation for U. S. federal income tax purposes) or a partnership (other than a partnership
that is not treated as a U. S. person under any applicable U. S. Treasury regulations) created or organized under the laws of the United
States or the District of Columbia or any political subdivision thereof; (3) an estate, the income of which is includable in gross income
for U. S. federal income tax purposes regardless of source; (4) a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more U. S. persons have authority to control all substantial decisions of the
trust; or (5) a trust that has a valid election in effect to be treated as a U. S. person to the extent provided in U. S. Treasury regulations.

This summary is for general
information purposes only and does not purport to be a comprehensive description of all of the U. S. federal income tax considerations
that may be relevant to a decision to purchase our common shares or Warrants. This summary generally considers only U. S. Holders that
will own our common shares or Warrants as capital assets. Except to the limited extent discussed below, this summary does not consider
the U. S. federal tax consequences to a person that is not a U. S. Holder, nor does it describe the rules applicable to determine a taxpayer’s
status as a U. S. Holder. This summary is based on the provisions of the Internal Revenue Code of 1986, as amended, or the Code, final,
temporary and proposed U. S. Treasury regulations prom