Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 27

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 27
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inability to distribute dividends. We have never declared or paid cash dividends, and we do not anticipate paying cash dividends in the
foreseeable future. Therefore, you should not rely on an investment in the Ordinary Shares as a source for any future dividend income.
Our board of directors has complete discretion as to whether to distribute dividends. Even if our board of directors decides to declare
and pay dividends, the timing, amount, and form of future dividends, if any, will depend on our future results of operations and cash
flow, our capital requirements and surplus, the amount of distributions, if any, received by us from our subsidiaries, our financial condition,
contractual restrictions, and other factors deemed relevant by our board of directors. In addition, the Israeli Companies Law, 5759-1999,
or the Companies Law, imposes restrictions on our ability to declare and pay dividends.

Raising additional
capital may cause dilution to our existing shareholders and may adversely affect the rights of existing shareholders.

We
may need to raise additional capital through a combination of private and public equity offerings, debt financings and collaborations,
and strategic and licensing arrangements. To the extent that we raise additional capital through the issuance of equity or otherwise including
through convertible debt securities, your ownership interest will be diluted, and the terms may include liquidation or other preferences
that adversely affect your rights as a shareholder. Debt financing, if available, may involve agreements that include covenants limiting
or restricting our ability to take certain actions, such as incurring debt, making capital expenditures or declaring dividends. If we
raise additional funds through strategic partnerships and alliances and licensing arrangements with third parties, we may have to relinquish
valuable rights to our technologies or product candidates or grant licenses on terms that are not favorable to us. If we are unable to
raise additional funds through equity or debt financing when needed, we may be required to delay, limit, reduce or terminate our product
development or commercialization efforts or grant rights to develop and market product candidates that we would otherwise prefer to develop
and market ourselves. Future sales of our Ordinary Shares or of securities convertible into our Ordinary Shares, or the perception that
such sales may occur, could cause immediate dilution and adversely affect the market price of our Ordinary Shares.

We may be a “passive
foreign investment company,” or PFIC, for U. S. federal income tax purposes in the current taxable year or may become one in any
subsequent taxable year. There generally would be negative tax