Company: SLMT
Filing Date: 2025-11-18
Form Type: 424B5
Source: 0001213900-25-112135
Chunk: 20

Company: Brera Holdings PLC
Filing Date: 2025-11-18
Form: 424B5
Chunk 20
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 investment. See the section entitled “Dilution” below for a more detailed
illustration of the dilution you would incur if you participate in this offering.

It is not possible to predict the actual number of shares we will sell under the Sales Agreement, or the actual gross proceeds resulting from those sales.

Subject to certain limitations in the Sales Agreement
and compliance with applicable law, we have the discretion to deliver a placement notice to Cantor at any time throughout the term of
the Sales Agreement. The number of shares that are sold to or through Cantor after delivering a placement notice will fluctuate based
on a number of factors, including the market price of the Class B Ordinary Shares during the sales period, the limits we set with Cantor
in any applicable placement notice, and the demand for our Class B Ordinary Shares during the sales period. Because the price per share
of each share sold will fluctuate during the sales period, it is not currently possible to predict the number of shares that will be sold
or the actual gross proceeds to be raised in connection with those sales.

The Class B Ordinary Shares offered hereby will be sold in “at the market offerings,” and investors who buy shares at different times will likely pay different prices.

Investors who purchase shares in this offering
at different times will likely pay different prices, and so may experience different levels of dilution and different outcomes in their
investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares sold in this
offering. In addition, there is no minimum sales price above par value or maximum sales price for shares to be sold in this offering.
Investors may experience a decline in the value of the shares they purchase in this offering as a result of sales made at prices lower
than the prices they paid.

<div align='center'>S-9</div>

Our management will have broad discretion as to the use of the proceeds from this offering may invest or otherwise use the proceeds in ways with which you may not agree or in ways that may not yield a return.

Our management will have broad discretion in the
application of the net proceeds from any offering by us and could use the proceeds for purposes other than those contemplated at the time
of the offering, including in ways that do not improve our results of operations or enhance the value of our Class B Ordinary Shares.
The failure by our management to apply these funds effectively could result in financial losses that have a material adverse effect on
our business or cause