Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 174

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 7
Chunk 174
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 by Another Corporation, Foreign Government or Other Persons
 
To the best of our knowledge, the Company is not directly or indirectly owned or controlled by another corporation(s), by any foreign government or by any other natural or legal person(s) severally or jointly.

B.   Related Party Transactions
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Valor Private Placement
 
On September 29, 2024, we entered into a securities purchase agreement with Valor for a private placement offering, or the Valor Private Placement. In the Valor Private Placement, we agreed to issue to Valor (i) an aggregate of 2,103,745 ADSs (representing 4,207,490 Ordinary Shares), at a purchase price of US$9.50686 per ADS, a 20% premium above the 30-day volume-weighted average price (VWAP) of the ADSs for an aggregate consideration of $20 million, and (ii) a warrant to purchase up to an additional 1,500,000 ADSs (representing up to 3,000,000 Ordinary Shares) at an exercise price of US$9.50686 per ADS, which may further increase the gross proceeds from the Valor Private Placement to up to a total of approximately $34.3 million if the Valor Warrant is fully exercised in cash. The Valor Warrant became exercisable immediately upon issuance thereof at the closing of the Valor Private Placement on November 5, 2024 and is exercisable for 18 months following its initial issuance date, provided, however, that during such 18-month period, if the ADS closing price for any thirty (30) consecutive trading days exceeds the Valor Warrant exercise price by 40% or more, Valor shall be required to fully exercise the Valor Warrant within five (5) trading days.
 
In connection with the Valor Private Placement we granted Valor the right to nominate (i) at least one member to our Board of Directors so long as Valor holds, directly or indirectly, or together with any Valor Affiliates at least 10% of our issued and outstanding share capital and (ii) two members to our Board of Directors so long as Valor holds, directly or indirectly, or together with the Valor Affiliates at least 20% of our issued and outstanding share capital.
 
Concurrently with the execution of the securities purchase agreement, we and Valor entered into a registration rights agreement pursuant to which we agreed to file within 10 days following receipt of the shareholder approval of the Valor Private Placement a registration statement with the SEC to register