Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 65

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 65
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4. On March 27, 2025, the Company entered into a securities purchase agreement, or the March 2025 SPA, with three accredited investors. Pursuant to the terms of the March 2025 SPA, the Company agreed to issue and sell to the investors, in a private placement offering, 1,212,122Preferred Shares and warrants to purchase common shares with an initial conversion price of $ 1.65per share and exercise price of $ 1.80, for aggregate gross proceeds of $ 2million. The March 2025 SPA closed in two separate tranches on March 28, 2025 and June 27, 2025. Pursuant to the terms of the March 2025 SPA, the Company issued an aggregate of 1,249,904Preferred Shares, 568,278PPCs, and 1,181,818common share warrants with an exercise of $ 1.80per share exercisable immediately for five years and received gross proceeds of $ 3,000,000or $ 1.65per unit of a Preferred Share or PPC and warrant issued (the “March 2025 Offering”). The initial conversion and exercise prices in the Preferred Shares, PPC and common share warrants issued in March and June 2025 are subject to adjustment, for share splits, dividends and the subsequent sale or issuance of equity and equity -linkedinstruments with an effective price per share that is lower than the initial conversion price. During the six months ended June 30, 2025, the Down Round Provision embedded in the October 2024 Preferred Shares and PPCs was triggered twice. Once in January 2025 with the sale of common shares at $ 3.10(see below) and by the March 2025 SPA which resulted in the conversion price of the outstanding Preferred Shares or PPCs being reduced from $ 3.10to $ 1.65. The impact of the triggering of these Down Round Provisions is disclosed in more detail below in the subheading titled Deemed Dividends. In connection with the January 2025 trigger, the Company issued 360,000PPCs to the preferred shareholders in the October 2024 issuance. During the six months ended June 30, 2025, 551,532PPCs were converted into 754,384common shares. As of June 30, 2025 and December 31, 2024, the total issued and outstanding Preferred Shares and PPCs were 1