Company: SLMT
Filing Date: 2025-06-17
Form Type: 424B5
Source: 0001213900-25-055248
Chunk: 23

Company: Brera Holdings PLC
Filing Date: 2025-06-17
Form: 424B5
Chunk 23
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 align='center'>S-10

DILUTION</div>

Our net tangible book value was approximately
$1,098,113, or approximately $0.068 per ordinary share, as of December 31, 2024. Our net tangible book value represents the amount of
our total consolidated tangible assets (which is calculated by subtracting intangible assets and deferred tax assets from our total consolidated
assets), less the amount of our total consolidated liabilities. Dilution is determined by subtracting net tangible book value per share
after giving effect to this offering.

After giving effect to our sale of 2,074,074 Class B Ordinary Shares in this offering at an offering price of $0.675 per share,and adjusting
for the change in our pro forma net tangible book value subsequent to December 31, 2024 due to (i) the issuance of 2,400,000 Class B Ordinary
Shares on January 10, 2025 at a price per share of $0.65; (ii) the issuance of 80,000 Class A Ordinary Shares on May 15, 2025 in exchange
for $50,000 debt cancellation; (iii) the issuance of 1,200,000 Class B Ordinary Shares on March 6, 2025, March 31, 2025, May 28, 2025
and June 5, 2025, under the 2022 Plan; (iv) the issuance and sale of 186,400 of our Series A Preferred Shares on February 7, 2025, February
12, 2025, February 21, 2025, March 6, 2025, March 21, 2025, March 27, 2025, and March 31, 2025, at a per share price of $5.00; and (v)
the issuance and sale of 41,391 Units on May 30, 2025 and June 5, 2025, at an offering price of $5.40 per Unit, with each Unit consisting
of (a) one Series B Preferred Share and (b) a warrant to purchase a number of Class B Ordinary Shares, equal to ten percent (10%) of the
number of Class B Ordinary Shares underlying the Series B Preferred Shares purchased by the investor, with an exercise price of $1.35
per whole Class B Ordinary Share, our pro forma as adjusted net tangible book value as of