Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 116

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 116
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2023.

In connection with the above investment
agreement and its facilitation of it, the Company paid transaction fees to a third party consisting of cash consideration of $275thousand
and non-marketable options, exercisable into5,360Ordinary Shares of the Company, for an exercise price of NIS141.8per one Ordinary
Share. The above fees were paid proportionately upon the closing of each stage of the investment agreement. Consequently, issuance costs
of $592thousand, including the value attributed to the options granted of $275thousand were charged to share premium derived from the
issuance of Ordinary Shares. The value attributed to the above options was calculated according to the Black-Scholes pricing model.

  On February 16, 2023, the Company completed a private placement by certain investors, some of whom are                                                                                                

F-23

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 - EQUITY(cont.):

  Share capital (cont.)  

Issuance costs (of approximately $29thousand) and the placement proceeds were allocated on a relative fair value basis ($2.24million to share capital and premium and
$1.35million to the warrants); the warrants fair value was determined on the basis of the Black - Scholes pricing model.

The above private placement includes64,503units (representing a total investment of $1million in cash), offered to Mr. Avraham Brenmiller - the Company’s former controlling
shareholder and the Company’s Chief Executive Officer and Chairman of the Board of Directors (the “ Board”) - with the
same terms and conditions, as offered to the other investors.

  On June 9, 2023, the Company, entered into a Sales Agreement with A. G. P./Alliance                                                         
  Global Partners (“the Sales Agent”), pursuant to which the Company may offer and sell, from time to time, to or through the                 
  Sales Agent as agent or principal, Ordinary Shares under an “at the market offering” (“ ATM”) as defined in Rule                            
  415 promulgated under the Securities Act of 1933, as amended, or the Securities Act. The Ordinary Shares will be offered and sold pursuant  
  to the Company’s currently effective registration statement on Form F-3, the prospectus contained therein and the prospectus supplement     
  filed with the SEC dated June 9, 2023,