Company: BWAY
Filing Date: 2025-05-01
Form Type: 424B3
Source: 0001171843-25-002668
Chunk: 20

Company: Brainsway Ltd.
Filing Date: 2025-05-01
Form: 424B3
Chunk 20
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center'>SELLING SHAREHOLDER</div>

PIPE Investment

On November 5, 2024, we issued to Valor BrainsWay Holdings,
LLC (“Valor BrainsWay” or the “selling shareholder”) an aggregate of 2,103,745 ADSs, representing 4,207,490 Ordinary
Shares, at a purchase price of US$9.50686 per ADS, and a Warrant to purchase up to an additional 1,500,000 ADSs, representing up to 3,000,000
Ordinary Shares, pursuant to the Purchase Agreement. The Warrant has an Exercise Price of US$9.50686 per ADS, became exercisable immediately
upon issuance thereof at the closing of the PIPE Investment and will expire 18 months from the date of issuance, provided, however, that
during such 18-month period, if the ADS closing price for any thirty (30) consecutive trading days exceeds the Exercise Price by 40% or
more, the holder of the Warrant shall be required to fully exercise the Warrant in accordance with its terms within five (5) trading days.
The last reported sale price for the ADSs on April 21, 2025, as quoted on the Nasdaq Global Market, was $7.86 per ADS.

The issuance of the securities in the PIPE Investment
was exempt from the registration requirements of the Securities Act pursuant to an exemption provided by Section 4(a)(2) thereof and Rule
506 of Regulation D promulgated thereunder as a transaction by an issuer not involving a public offering. Pursuant to the Registration
Rights Agreement, we agreed, among other things, to file a registration statement with the SEC for purposes of registering the resale
of the Offered ADSs within three (3) business days of the filing of our Annual Report on Form 20-F for the fiscal year ended December
31, 2024.

We are registering the resale by the selling shareholder
of the above-referenced securities in order to permit the selling shareholder to offer such securities for resale from time to time pursuant
to this prospectus. The selling shareholder may also sell, transfer or otherwise dispose of all or a portion of such securities in transactions
exempt from the registration requirements of the Securities Act, or pursuant to another effective registration statement covering those.

Relationships with the Selling Shareholder

Except for the PIPE Investment and Mr. Jonathan Shulkin’s
service on our board of directors as the Valor BrainsWay design