Company: SLMT
Filing Date: 2025-05-28
Form Type: 20-F/A
Source: 0001213900-25-048029
Chunk: 75

Company: Brera Holdings PLC
Filing Date: 2025-05-28
Form: 20-F/A
Chunk 75
---
 2022                    
 Activity during the year ended December 31, 2023: |     | Shares |       - |   |     | Weighted 
 Average  
 Exercise 
 Price    
 US$      |    - |     | Weighted      
 Average       
 Remaining     
 Contractual   
 Life in Years |     | Aggregate 
 Intrinsic 
 Value     |   |
|:--------------------------------------------------|:----|:-------|--------:|:--|:----|:---------|-----:|:----|:--------------|:----|:----------|--:|
| Options granted                                   |     |        | 250,000 |   |     | US$      | 2.00 |     |               |     |           |   |
| Options forfeited                                 |     |        | (50,000 | ) |     | US$      | 2.00 |     |               |     |           |   |
| Outstanding, December 31, 2023                    |     |        | 200,000 |   |     | US$      | 2.00 |     |               |     |           |   |
| Outstanding, December 31, 2024 (no activity)      |     |        | 200,000 |   |     | US$      | 2.00 |     |               |     |           |   |
| Exercisable, December 31, 2024                    |     |        |  66,667 |   |     | US$      | 5.09 |     |               |     | US$       | 0 |

F-37

Conversion of Shares

During the year ended December 31, 2024, holders
of Class A Ordinary Shares converted these shares on a one for one basis into Class B Ordinary Shares.

Warrants

During the year ended December 31, 2023, we issued
a -year warrant to purchase Class B Ordinary Shares to Revere Securities, LLC (“Revere”), the underwriter
in our Initial Public Offering. The warrant expires January 26, 2028 and is fully exercisable upon issue at an exercise price of US$ per
share. We valued the warrant using the Black-Scholes option pricing model and recorded EUR as an initial warrant liability
and a charge to additional paid-in-capital on the issue date. Since a variable number of shares may be issued for this warrant under certain
circumstances, IAS 32 requires it be recorded as a