Company: BNRG
Filing Date: 2025-05-14
Form Type: 424B4
Source: 0001213900-25-042979
Chunk: 28

Company: Brenmiller Energy Ltd.
Filing Date: 2025-05-14
Form: 424B4
Chunk 28
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 11,173 |   |

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 to $247.10 per Ordinary Share, issued to directors, officers, service providers and employees; and |

| ● | an aggregate of 1,371,495 Ordinary Shares issuable upon the exercise of outstanding warrants to purchase Ordinary Shares, at exercise prices ranging between $5.0 to $16.66 per Ordinary Share, issued to certain investors in connection with private placements. |

<div align='center'>17

DILUTION</div>

If you invest in our
securities, your interest will be diluted immediately to the extent of the difference between the public offering price per Ordinary
Share you will pay in this offering and the pro forma as adjusted net tangible book value per Ordinary Share after this offering. As
of December 31, 2024, we had a net tangible book value of $4.5 million, corresponding to a net tangible book value per Ordinary
Share of $0.55. Net tangible book value per Ordinary Share represents the amount of our total tangible assets
less our total liabilities, divided by 8,094,791, the total number of Ordinary Shares issued and outstanding as of December
31,2024.

Our pro forma net
tangible book value as of December 31, 2024, would have been approximately $5.7 million, representing approximately $0.64 per
Ordinary Share. Pro forma net tangible book value per Ordinary Share represents the amount of our total tangible assets less
our total liabilities, divided by 8,806,619 the total number of Ordinary Shares issued and outstanding on April 24, 2025, after
giving effect to (i) the issuance and sale of 477,627 Ordinary Shares from December 31, 2024 to the date of this prospectus under
a sales agreement pursuant to an “at-the-market” offering and the receipt of gross proceeds of $880,000 from such sale; and (ii) the issuance of an aggregate of 234,201
Ordinary Shares with respect to 234,201 restricted share units