Company: BWAY
Filing Date: 2025-05-01
Form Type: 424B3
Source: 0001171843-25-002668
Chunk: 18

Company: Brainsway Ltd.
Filing Date: 2025-05-01
Form: 424B3
Chunk 18
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 shares that the acquirer offered
to purchase will be transferred to the acquirer by operation of law. A tender offer will also be deemed to be accepted if the shareholders
who do not accept it hold less than 2% of the issued and outstanding share capital of the company or of the applicable class of the shares.

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Upon completion of such a full tender offer, any shareholder
that was an offeree in such tender offer, whether such shareholder accepted the tender offer or not, may, within six months from the date
of acceptance of the tender offer, petition the Israeli court to determine whether the tender offer was for less than fair value and that
the fair value should be paid as determined by the court. However, under certain conditions, the offeror may determine in the terms of
the tender offer that an offeree who accepted the offer will not be entitled to petition the Israeli court as described above, as long
as, among other things, the offeror and the company disclosed the information required by law in connection with the full tender offer.

If the full tender offer was not accepted in accordance
with any of the above alternatives, the acquirer may not acquire shares of the company that will increase its holdings to more than 90%
of the company’s issued and outstanding share capital or of the applicable class from shareholders who accepted the tender offer.

Shares purchased in contradiction to the special or
full tender offer rules under the Israeli Companies Law will have no rights and will become dormant shares.

Merger

The Israeli Companies Law permits merger transactions
if approved by each party’s board of directors and, unless certain requirements described under the Israeli Companies Law are met,
a simple majority of the outstanding shares of each party to the merger that are represented and voting on the merger.

The board of directors of a merging company is required
pursuant to the Israeli Companies Law to discuss and determine whether in its opinion there exists a reasonable concern that, as a result
of a proposed merger, the surviving company will not be able to satisfy its obligations towards its creditors, taking into account the
financial condition of the merging companies. If the board of directors has determined that such a concern exists, it may not approve
a proposed merger. Following the approval of the board of directors of each of the merging companies, the boards of directors must jointly
prepare a merger proposal for submission to the Israeli Registrar of Companies.

In the event that shares of the target company are
held by the acquiring company or by a person holding 25