Company: BWAY
Filing Date: 2025-05-01
Form Type: 424B3
Source: 0001171843-25-002668
Chunk: 12

Company: Brainsway Ltd.
Filing Date: 2025-05-01
Form: 424B3
Chunk 12
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 any applicable prospectus supplement. All net proceeds from the
sale of the Offered ADSs covered by this prospectus and any applicable prospectus supplement will go to the selling shareholder. The selling
shareholder will pay any underwriting fees, discounts, selling commissions, and expenses incurred by the selling shareholder in disposing
of the Offered ADSs. We will bear all other costs, fees and expenses incurred in effecting the registration of the Offered ADSs covered
by this prospectus, including all registration and filing fees and fees and expenses of our counsel and accountants.

The Warrant to purchase 1,500,000 ADSs may be exercised,
in whole or in part, by the selling shareholder at any time during the Exercise Period by paying the Exercise Price in cash or by means
of a “cashless exercise” according to the formula set forth in the Warrant. To the extent the Warrant is exercised for cash
in full, the proceeds to us would be approximately $14,260,290.

We intend to use the proceeds from the exercise of
the Warrant for cash, if any, for working capital, research and development and general corporate purposes.

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<div align='center'>DESCRIPTION OF ORDINARY SHARES</div>

Our authorized share capital currently consists of
120,000,000 Ordinary Shares, par value NIS 0.04 per share, of which 37,626,427 shares were issued and outstanding as of December 31, 2024.

All of our outstanding Ordinary Shares are and will
be validly issued, fully paid and non-assessable. Our Ordinary Shares are not redeemable and do not have any preemptive rights.

As of December 31, 2024, there were outstanding options
to purchase an aggregate of approximately 5,626,113 of our Ordinary Shares, with a weighted-average exercise price of $2.93 per Ordinary
Share, and approximately 428,452 restricted share units. There are an additional 952,362 Ordinary Shares reserved for future issuance
under our Share Incentive Plan.

Transfer of Shares. Fully paid Ordinary Shares
are issued in registered form and may be freely transferred pursuant to our articles of association unless that transfer is restricted
or prohibited by another instrument. There are no Israeli laws and regulations that impose limitations on the rights to own securities,
including the rights of non-resident or foreign shareholders to hold or exercise voting rights on the securities imposed by foreign law
or by the charter or other constituent