Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 89

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 89
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 Foreign Investment Company Considerations.”

  50  

ITEM 4. INFORMATION
ON THE COMPANY

  History and Development of the Company  

Our legal and commercial name is BrainsWay Ltd. We
are a public company that was incorporated under the laws of the State of Israel in November 2006. We completed our initial public offering
on the TASE on January 4, 2007, and on April 16, 2019 we completed the listing of the ADSs on The Nasdaq Global Market. Our Ordinary Shares
are currently listed on the TASE under the symbol “ BWAY”, and the ADSs are currently listed on The Nasdaq Global Market under
the symbol “ BWAY”. Our Israel-based principal executive offices are located at 16 Hartum Street, RAD Tower, 14th Floor, Har
HaHotzvim, Jerusalem 9777516, Israel, and our telephone number is +972-2-582-4030. We also have U. S. offices located in Boston and plan
to move to New Jersey.

The Securities and Exchange Commission, or SEC, maintains
an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically
with the SEC at http://sec. gov.

Our web site address is http://www. brainsway. com.
Information contained on, or that can be accessed through, our website does not constitute a part of this Annual Report.

Our capital expenditures for the years ended December
31, 2024, 2023, and 2022 were approximately $3.8 million, $2.3 million and $1.7 million, respectively. Our current capital expenditures
primarily involve purchase of equipment and system components in both Israel and the United States. Our research and development costs
for the years ended December 31, 2024, 2023, and 2022 amounted to $7.2 million, $6.7 million and $7.7 million, respectively. These research
and development costs primarily consisted of expenses incurred in connection with the development of our existing and future indication
pipeline, and the development of our Deep TMS system. We expect our capital expenditures and research and development costs to remain
significant as we continue our research and development efforts and advance our existing and planned clinical pipeline, in the United
States and other strategic markets. We anticipate our capital expenditures and research and development costs in 2025 to be financed from
our existing cash and