Company: BNRG
Filing Date: 2025-04-28
Form Type: F-1
Source: 0001213900-25-035754
Chunk: 34

Company: Brenmiller Energy Ltd.
Filing Date: 2025-04-28
Form: F-1
Chunk 34
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 corresponding to a net tangible book value of $0.55 per Ordinary Share. Net tangible
book value per Ordinary Share represents the amount of our total tangible assets less our total liabilities, divided by 8,094,791, the
total number of Ordinary Shares issued and outstanding as of December 31,2024.

Our pro forma net tangible
book value as of December 31, 2024, would have been approximately $5.7 million, representing approximately $0.64 per Ordinary Share. Pro forma net tangible book value per Ordinary Share represents the amount of our total tangible assets less our total liabilities, divided
by 8,806,619 the total number of Ordinary Shares issued and outstanding on April 24, 2025, after giving effect to (i) the issuance and
sale of 477,627 Ordinary Shares from December 31, 2024 to the date of this prospectus under a sales agreement pursuant to an “at-the-market”
offering; and (ii) the issuance of an aggregate of 234,201 Ordinary Shares with respect to 234,201 restricted share units we have granted
to employees from December 31, 2024 to the date of this prospectus.

After giving effect to the
sale of the Ordinary Shares and accompanying Warrants offered by us in this offering and after deducting the estimated placement agent
fees and expenses and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value estimated at December
31, 2024 would have been approximately $9.2 million, representing $0.77 per Ordinary Share. At the assumed public offering price
for this offering of $1.332 per Ordinary Share and accompanying Warrant, which was the last reported sale price on Nasdaq of our
Ordinary Shares on April 24, 2025, set forth on the cover page of this prospectus, this represents an immediate increase in historical
net tangible book value of $0.13 per Ordinary Share to existing shareholders and an immediate dilution in net tangible book value
of $0.56 per Ordinary Share to purchasers of Ordinary Shares in this offering. Dilution for this purpose represents the difference
between the price per Ordinary Share paid by these purchasers and pro forma net tangible book value per Ordinary Share immediately after
the completion of this offering.

The following table illustrates
this dilution on a per Ordinary Share basis to purchasers of Ordinary Shares in this offering:

| Assumed public offering price per Ordinary Share                                                           |     |