Company: BNRG
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001213900-25-054302
Chunk: 33

Company: Brenmiller Energy Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 33
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1 million, representing approximately $0.60 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 13,579,259 the total number of Ordinary Shares issued and outstanding on June 12, 2025, after giving effect to
(i) the issuance and sale of 2,942,574 Ordinary Shares from December 31, 2024 to the date of this prospectus under a sales agreement
pursuant to an “at-the-market” offering and the receipt of net proceeds of $2,098 thousand from such sale; (ii) the issuance
and sale of 2,307,693 securities in the May 2025 Public Offering; and (iii) 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 exercise of the Outstanding Warrants as if the exercise of the Outstanding Warrants had occurred on December 31, 2024, our pro formaas adjusted net tangible book value estimated at December 31, 2024, would have been approximately $12.5 million, representing
$0.87 per Ordinary Share.

The following table illustrates
this dilution of 83% per Ordinary Share:

| Exercise price per Warrant                                                                                                        |     | $ | 5.00 |   |
| Net tangible book value per Ordinary Share as of December 31, 2024                                                                |     | $ | 0.55 |   |
| Pro                                                                                                                               
 forma net tangible book value per Ordinary Share                                                                                  |     |   | 0.60 |   |
| Increase in net tangible book value per Ordinary Share                                                                            
 attributable to Outstanding Warrant holders purchasing Ordinary Shares pursuant to Outstanding Warrant exercises in this offering |     | $ | 0.27 |   |
| As                                                                                                                                
 adjusted net tangible book value per Ordinary Share to give effect to Outstanding Warrant holders purchasing Ordinary Shares      
 in this offering                                                                                                                  |     | $ | 0.87 |   |
| Dilution per Ordinary Share to Outstanding Warrant                                                                                
 holders purchasing Ordinary Shares in this offering                                                                               |     | $ | 4.13 |   |
| Percentage of dilution in net tangible book value per                                                                             
 Ordinary Share for Outstanding Warrant holders                                                                                    |     |   |   83 |