Company: BWAY
Filing Date: 2025-04-22
Form Type: F-3
Source: 0001171843-25-002378
Chunk: 23

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: F-3
Chunk 23
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 the Valor BrainsWay designee in connection with its PIPE Investment, Valor BrainsWay has not had
any material relationship with us within the past three years.

Information About Selling Shareholder Offering

The Ordinary Shares represented by the Offered ADSs
being offered by the selling shareholder are those issued in, or issuable in connection with, the PIPE Investment described above. We
are registering the Offered ADSs in order to permit the selling shareholder to offer the Offered ADSs and underlying Ordinary Shares for
resale from time to time.

Throughout this prospectus, when we refer to the Offered
ADSs being registered on behalf of the selling shareholder, we are referring to the (i) 2,103,745 ADSs issued to the selling shareholder
and (ii) up to 1,500,000 ADSs issuable upon exercise of the Warrant issued to the selling shareholder in the PIPE Investment, and when
we refer to the selling shareholder in this prospectus we are referring to the selling shareholder identified below, and, as applicable,
permitted transferees or other successors-in-interest of the selling shareholder that may be identified in a supplement to this prospectus
or, if required, a post-effective amendment to the registration statement of which this prospectus is a part.

The table below provides information regarding the
beneficial ownership of the Ordinary Shares represented by the Offered ADSs by the selling shareholder. The second column lists the number
of Ordinary Shares represented by the Offered ADSs beneficially owned by the selling shareholder, based on its beneficial ownership of
the Offered ADSs, as of March 31, 2025, assuming the exercise in full of the Warrant held by the selling shareholder on that date. The
fourth column lists the maximum number of Ordinary Shares represented by the Offered ADSs being offered in this prospectus by the selling
shareholder, including those issuable upon exercise in cash and in full of the Warrant. The fifth and sixth columns list the number of
Ordinary Shares represented by the Offered ADSs owned after the offering and the percentage of outstanding Ordinary Shares, assuming in
both cases the exercise in full of the Warrant held by the selling shareholder and the sale of all of the Ordinary Shares represented
by the Offered ADSs offered by the selling shareholder pursuant to this prospectus.

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The selling shareholder may sell some, all or none
of its Offered ADSs. We do not know when or