Company: BNRG
Filing Date: 2025-05-14
Form Type: 424B4
Source: 0001213900-25-042979
Chunk: 29

Company: Brenmiller Energy Ltd.
Filing Date: 2025-05-14
Form: 424B4
Chunk 29
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 we have granted to employees from December 31, 2024 to the date of
this prospectus.

After giving effect to the
sale of the Ordinary Shares and accompanying Warrants offered by us in this offering and after deducting the estimated placement agent
fees and expenses and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value estimated at
December 31, 2024 would have been approximately $6.9 million, representing $0.62 per Ordinary Share. At the public offering
price for this offering of $0.65 per Ordinary Share and accompanying Warrants, this represents an immediate decrease in historical
net tangible book value of $0.02 per Ordinary Share to existing shareholders and an immediate dilution in net tangible book value
of $0.03 per Ordinary Share to purchasers of Ordinary Shares in this offering. Dilution for this purpose represents the difference
between the price per Ordinary Share paid by these purchasers and pro forma net tangible book value per Ordinary Share immediately after
the completion of this offering.

The following table illustrates
this dilution on a per Ordinary Share basis to purchasers of Ordinary Shares in this offering:

| Combined public offering price per Ordinary Share and accompanying                                         
 Warrants                                                                                                   |     | $ | 0.65 |   |
| Net tangible book value per Ordinary Share as of December 31, 2024                                         |     | $ | 0.55 |   |
| Pro forma net tangible book value per Ordinary Share                                                       |     | $ | 0.64 |   |
| Decrease in pro forma as adjusted net tangible book value per Ordinary Share attributable to new investors |     | $ | 0.02 |   |
| Pro forma as adjusted net tangible book value per Ordinary Share                                           |     | $ | 0.62 |   |
| Dilution per Ordinary Share to new investors                                                               |     | $ | 0.03 |   |
| Percentage of dilution in net tangible book value per Ordinary Share for new investors                     |     |   |    5 | % |

The number of Ordinary Shares
to be outstanding immediately after this offering as shown above is based on 8,806,619 Ordinary Shares outstanding as of April 24, 2025
and assumes that all of the Ordinary Shares offered hereby are sold. This number excludes:

| ● | an aggregate of 543,205 Ordinary Shares issuable upon the exercise of outstanding options to purchase Ordinary Shares, at exercise prices ranging between $0.01