Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 372

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 372
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 fifty
percent (50%) of future offerings of the Company’s securities for one year following the closing. In addition, the Company agreed
not to enter into an equity line of credit or similar agreement, without the consent of the majority of the holders of the preferred shares.
In December 2024,600,000preferred shares were converted into Company Common Shares; therefore, as of December 31, 2024206,452preferred
shares remain outstanding. Accrued dividends from the date of issuance to December 31, 2024 were not significant.

Common Shares

As of December 31, 2024, the Company had3,159,535registered and issued Company Common Shares.

On December 4, 2024, the Company, entered into a securities purchase agreement, or the December
SPA, with a certain accredited investor and agreed to issue and sell to the investor, in a private placement offering, or the SPA Offering,
up to322,580Company Common Shares, at a purchase price of $3.10per Company Common Share for aggregate gross proceeds of up to $1million,
subject to shareholder approval, or the Shareholder Approval.

The offering was structured in two tranches, with
the first tranche of $500,000closing following shareholder approval. The Company has also agreed that (i) on or before January 15, 2025,
or sooner contemporaneously with the Shareholder Approval, the Company will take all steps necessary to obtain all approvals, including
shareholder approval, necessary to reduce the par value of the Company Common Shares to the minimum permissible par value which shall
not be greater than CHF0.03per Company Common Share; (ii) on or before January 9, 2025, the Company will authorize and reserve sufficient
Company Common Shares to satisfy the anti-dilution and ratchet rights of the Purchaser under the prior securities purchase agreement dated
October 9, 2024, or the October SPA, after giving effect to the conversion price reduction of the preferred shares as a result of the
Dilutive Issuances (as defined in the October SPA) caused by the Company entering into Securities Purchase Agreement; and (iii) in addition
to the Company’s obligations pursuant to the October SPA. The second tranche of $500,000may occur, at the election of the investor,
within 15 days following the Company meeting certain conditions, including the receipt of shareholder approval and the Common Shares trading
for at least ten consecutive