Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 78

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 78
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 events and factors, many of which are beyond our control.

  44  

These, and other market and industry factors, may
cause the market price and demand for the ADSs to fluctuate substantially, regardless of our actual operating performance, which may limit
or prevent investors from readily selling their ADSs and may otherwise negatively affect the liquidity of the ADSs. In addition, stock
markets in general, and medical device companies in particular, have experienced extreme price and volume fluctuations that have often
been unrelated or disproportionate to the operating performance of these companies.

The significant
share ownership position of several of our officers, directors, and entities affiliated with certain of our directors, including Valor,
may limit your ability to influence corporate matters.

Our officers, directors, and entities affiliated with certain
of our directors beneficially own or control, directly or indirectly, approximately 35.46% of our outstanding Ordinary Shares as of March
31, 2025. Following a private placement of ADSs and warrants to purchase ADSs, consummated on November 5, 2024, Valor and its affiliates
own ADSs representing in the aggregate approximately 13.86% of our outstanding share capital as of March 31, 2025 and Valor also holds
currently exercisable warrants to purchase additional ADSs that, if exercised in full, will increase the aggregate holdings of Valor and
its affiliates to 20.2% of our outstanding share capital as of March 31, 2025. Valor also has the right, among other rights, to designate
(i) one nominee to our Board of Directors as long as it, together with its affiliates, beneficially holds at least 10% of our outstanding
share capital or (ii) two nominees to our Board of Directors as long as it, together with its affiliates, beneficially holds at least
20% of our outstanding share capital. Accordingly, our officers, directors, Valor and their affiliatesare able to significantly influence, though not independently determine, the outcome of matters required to be submitted to our
shareholders for approval, including decisions relating to the election of our Board of Directors, and the outcome of any proposed merger
or consolidation of our company. These interests may not be consistent with those of our other shareholders. In addition, these persons’
and Valor’s significant interest in us may discourage third parties from seeking to acquire control of us, which may adversely affect
the market price of the ADSs and our Ordinary Shares.

Holders of
ADSs may