Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 85

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 85
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 are a foreign private issuer, and therefore are
not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act applicable to U. S. domestic
issuers. In order to maintain our current status as a foreign private issuer, either (a) a majority of our Ordinary Shares and ADSs (calculated
together) must be owned of record, directly or indirectly, by non-residents of the United States or (b)(i) a majority of our senior management
or directors may not be U. S. citizens or residents, (ii) more than 50 percent of our assets cannot be located in the United States and
(iii) our business must be administered principally outside the United States. If we were to lose this status, we would be required to
comply with the Exchange Act reporting and other requirements applicable to U. S. domestic issuers, which are more detailed and extensive
than the requirements for foreign private issuers. We may also be required to make changes in our corporate governance practices in accordance
with various SEC and Nasdaq rules. The regulatory and compliance costs to us under U. S. securities laws if we are required to comply with
the reporting requirements applicable to a U. S. domestic issuer may be significantly higher than the costs we incur as a foreign private
issuer. As a result, we expect that a loss of foreign private issuer status would increase our legal and financial compliance costs and
would make some activities highly time consuming and costly. We also expect that if we were required to comply with the rules and regulations
applicable to U. S. domestic issuers, it would make it more difficult and expensive for us to obtain director and officer liability insurance,
and we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These rules and regulations
could also make it more difficult for us to attract and retain qualified members of our Board of Directors.

  48  

We may incur
increased costs as a result of operating as a public company in the United States, and our management may be required to devote substantial
time to new compliance initiatives.

As a public company whose ADSs are listed in the
United States, and particularly as we no longer qualify as an emerging growth company and/or may lose our foreign private issuer status,
we incur accounting, legal and other expenses that we did not incur prior to our listing on Nasdaq and registration with the SEC, including
costs associated with our reporting requirements under the Exchange