Company: BNRG
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001213900-25-054302
Chunk: 19

Company: Brenmiller Energy Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 19
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 tax purposes in the current taxable year or may become one in any subsequent taxable year. There generally would be negative tax consequences for U.S. taxpayers that are holders of the Ordinary Shares if we are or were to become a PFIC.

Based on the projected
composition of our income and valuation of our assets, we may be a passive foreign investment company, or PFIC, for 2025 and may become
or continue to be a PFIC in the future. The determination of whether we are a PFIC is made on an annual basis and will depend on the
composition of our income and assets from time to time. We will be treated as a PFIC for U.S. federal income tax purposes in any taxable
year in which either (1) at least 75% of our gross income is “passive income” or (2) on average at least 50% of our assets
by value produce passive income or are held for the production of passive income. Passive income for this purpose generally includes,
among other things, certain dividends, interest, royalties, rents and gains from commodities and securities transactions and from the
sale or exchange of property that gives rise to passive income. Passive income also includes amounts derived by reason of the temporary
investment of funds, including those raised in a public offering. In determining whether a non-U.S. corporation is a PFIC, a proportionate
share of the income and assets of each corporation in which it owns, directly or indirectly, at least a 25% interest (by value) is taken
into account. The tests for determining PFIC status are applied annually, and it is difficult to make accurate projections of future
income and assets which are relevant to this determination. In addition, our PFIC status may depend in part on the market value of the
Ordinary Shares. Accordingly, there can be no assurance that we currently are not or will not become a PFIC in the future. If we are
a PFIC in any taxable year during which a U.S. taxpayer holds the Ordinary Shares, such U.S. taxpayer would be subject to certain adverse
U.S. federal income tax rules. In particular, if the U.S. taxpayer did not make an election to treat us as a “qualified electing
fund”, or QEF, or make a “mark-to-market” election, then “excess distributions” to the U.S. taxpayer, and
any gain realized on the sale or other disposition of the Ordinary Shares by the U.S. taxpayer