Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 115

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 115
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 to demand                                   

  As security for the loan, the Company pledged the equipment that has been agreed upon in the financing                                   

F-22

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 10 - LOAN FROM THE EUROPEAN INVESTMENT
BANK (“ EIB”)(cont.):

  The Company is to comply with the following main covenants: a prohibition on the sale of certain assets                                      
  except for those used in the regular course of business, a prohibition on the execution of a merger or a structural change in the Company’s  
  group, except in cases that have been determined in the financing agreement with the bank, the Company may not distribute a dividend except  
  in the cases that are set forth in the financing agreement with bank; the Company is entitled to receive a government grant up to the        
  amount that is set forth in the financing agreement with the bank; and the Company is to hold cash and cash equivalents in an amount of      
  not less than EUR 350 thousand at all times (with which the Company complies).                                                               
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NOTE 11 - EQUITY:

  Share capital  

Share data in these financial statements,
have been adjusted retroactively to give effect to the reverse stock split (at a ratio of10:1), which came into effect on December 4,
2023, and the consequent changes made to warrants and options issued by the Company.

  On October 31, 2021, and as part of the Company’s preparation                                                                             

Pursuant to the agreement, upon closing
of the first stage on December 30, 2021 the Company received an aggregate amount of $7.5million against the issuance of167,031Ordinary
Shares.

On May 24, 2022, following the completion
of listing on Nasdaq and the effectiveness of a registration statement covering the resale of the Ordinary Shares and the Ordinary Shares
underlying the prefunded warrants under the investment agreement, an additional investment of $7.5million, was made against the issuance
of additional151,765Ordinary Shares and15,266prefunded warrants to purchase Ordinary Shares, at an exercise price of NIS6.0per ordinary
share exercisable immediately upon issuance for a period offive yearsfrom issuance. The prefunded warrants were exercised on July 7,