# EDGAR Filing Document

**Accession Number:** 0001783036
**File Stem:** 0000000000-25-007767
**Filing Date:** 2025-7
**Character Count:** 8044
**Document Hash:** 66df711c0c98cc860fd78800152a2490
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-007767.hdr.sgml**: 20260611

**ACCESSION NUMBER**: 0000000000-25-007767

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250723

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NewcelX Ltd.
- **CENTRAL INDEX KEY:** 0001783036
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 333-284075

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** THE CIRCLE 6
- **STREET 2:** 8058
- **CITY:** ZURICH
- **PROVINCE COUNTRY:** V8
- **BUSINESS PHONE:** 41-41-618-80-00

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** THE CIRCLE 6
- **STREET 2:** 8058
- **CITY:** ZURICH
- **PROVINCE COUNTRY:** V8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NLS Pharmaceutics Ltd.
- **DATE OF NAME CHANGE:** 20190719
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-24-113211

## Text-Extract

```

                                                            July 23, 2025

Alexander Zwyer
Chief Executive Officer
NLS Pharmaceutics Ltd.
The Circle 6
8058 Zurich, Switzerland

       Re: NLS Pharmaceutics Ltd.
           Amendment No. 5 to Registration Statement on Form F-4
           Filed July 18, 2025
           File No. 333-284075
Dear Alexander Zwyer:

     We have reviewed your amended registration statement and have the
following
comments.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe a comment applies to your
facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing any amendment to your registration statement and the
information
you provide in response to this letter, we may have additional comments.

Amendment No. 5 to Registration Statement on Form F-4
Extraordinary Shareholder Meeting of NLS
Record Date; Outstanding Shares; Shareholders Entitled to Vote, page 105

1.     Please provide us with a rollforward of each class of equity security
that reconciles
       amounts reported herein to those reported on your December 31, 2024
Consolidated
       Balance Sheet. Please also address the following:
           Your disclosure indicates that you hold a certain amount of each
equity class as
           Treasury shares. However, you do not present Treasury shares on the
face of your
           financial statements. Please advise or revise accordingly.
           Your disclosure indicates that you have issued 606,452 Preferred
Participation
           Certificates (PPCs) as of the date of this prospectus. Please
describe the
           significant terms of these securities and clarify when they were
issued. To the
           extent that you had issued and outstanding PPCs as of December 31,
2024, please
 July 23, 2025
Page 2

           revise your financial statements to disclose your accounting policy
for these
           securities and clarify where they are presented in your financial
statements.
             Ensure that all equity issuances subsequent to December 31, 2024
are properly
           reflected in both your pro forma financial statements and subsequent
events
           footnote.
Approval of Par Value Reduction, Reverse Split, and Ordinary Share..., page 109

2.     We note that your shareholders will be asked to approve a reverse split
of the issued
       and outstanding NLS Common Shares within a range of two-for-one (2:1) to
twenty-
       for-one (20:1) and that a table is provided on page 110 reflecting
different reverse
       split assumptions. We also note your table includes a
twenty-five-for-one scenario
       (25:1). Given that twenty-five-for-one (25:1) is out of the range being
voted on please
       remove this assumption or otherwise advise.
Unaudited Pro Forma Condensed Combined Financial Statements
Notes to accompanying Financial Statements
2. Pro Forma Adjustments, page 272

3.     Please explain how the share amounts included in adjustment (C) were
calculated. In
       this regard, you disclose that you received net proceeds of $2,875,000
in connection
       with the issuance of 1,249,904 preferred shares, 568,278 PPCs and
warrants to
       purchase 1,181,818 common shares of NLS. It is unclear how these amounts
equate to
       the preferred shares par value adjustment of 64,168 presented on page
269.
4.     As it relates to adjustments (F) and (G), please revise to specify the
dates of these
       transactions. As it relates specifically to adjustment (F), you disclose
that 551,532
       PPCs were converted into 754,384 common shares, which implies that such
PPCs
       were reflected in your preferred share balance as of December 31, 2024.
As
       previously requested, please revise your financial statements and
relevant disclosures
       throughout to disclose the significant terms of your PPCs, your
accounting policy for
       such securities and where they are classified in your financial
statements. Please also
       tell us your consideration of presenting PPCs separately from your
preferred stock.
5.     As it relates to adjustment (K), we note that this adjustment reflects
the reduction in
       par value of your equity securities from CHF 0.80 to CFH 0.03 effective
January 17,
       2025. Please explain why you have not provided additional adjustments
for the further
       reduction in par value to CFH 0.003 and the reverse share split which
are being voted
       on at your upcoming shareholders' meeting. In this regard, disclosure
throughout your
       prospectus indicates that the par value reduction and reverse share
split are necessary
       to meet the Nasdaq initial listing requirement, which is a closing
condition of the
       Merger Agreement.
6.     We note disclosure throughout your prospectus of additional financing
investments of
       approximately $2.5 million to be raised prior to the closing date of the
merger. Please
       clarify whether this additional financing is a condition of closing, and
if so, your
       consideration of giving pro forma effect to this additional financing.
Refer to Section
       3240.13 of the Division's Financial Reporting Manual and Article
11-01(a)(8) of
       Regulation S-X.
 July 23, 2025
Page 3

NLS Pharmaceutics Ltd. and Subsidaries
Consolidated Balance Sheets, page F-4

7.     The amounts reported on the face of your balance sheet as the par value
of your
       preferred and common shares as of December 31, 2024 appear to have been
       transposed as compared to your Statement of Changes in Equity. Please
revise to
       address this inconsistency.
Notes to the Consolidated Financial Statements
Notes 13 - Subsequent Events, page F-28

8.     Your disclosure on page 272 makes reference to a second closing of a
securities
       purchase agreement entered into with three accredited investors in June
2025 (the
       June 2025 SPA). Please revise your subsequent event disclosure to
disclose the
       material terms of this transaction, as well as any other significant
debt or equity
       transactions that have occurred subsequent to December 31, 2024.
       Please contact Angela Connell at 202-551-3426 if you have questions
regarding
comments on the financial statements and related matters. Please contact Doris
Stacey Gama
at 202-551-3188 or Alan Campbell at 202-551-4224 with any other questions.

                                                            Sincerely,

                                                            Division of
Corporation Finance
                                                            Office of Life
Sciences
cc:   Ron Ben-Bassat, Esq.

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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