Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 119

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 119
---
 Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 - EQUITY(cont.):

  Warrants (cont.)  

  The following table presents the outstanding non-marketable warrants, as of December 31, 2024 and their  
  terms:                                                                                                   
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────

  Date of issuance             Number of               Exercise price      Expiration date   
                             outstanding               for one                               
                                warrants               Ordinary share                        
  January 24, 2023 (a)            14,822      (*)      NIS 61.3            January 24, 2025  
  February 16, 2023 (a)          213,826               $16.66              February 1, 2028  
  February 16, 2023 (a)           20,000      (*)      NIS 61.3            February 1, 2028  
  June 15, 2023 (a)              248,778               $12.0               June 12, 2028     
  January 25, 2024 (b)           888,890               $5.0                January 25, 2029  
 ─────────────────────────────────────────────────────────────────────────────────────────────

  (*)      Presented as a warrants’ liability in the balance sheet,  

  (a)      On January 1, 2024, as a result of the change in the functional currency of the Company (Note 2E.) all                                     
           outstanding warrants issued under private placements on February 16, 2023 and June 15, 2023 that had exercise price denominated in NIS,    
           could have not been considered anymore as indexed to the Company’s own shares, and therefore were reclassified from equity to liabilities  
           at their fair value of $ 1,649 thousand (valued, as of that date, using the Black - Scholes pricing model).                                
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Subsequently, and after receiving the
approval of the warrants holders (except for two individuals) to fix the exercise price of such warrants in U. S. Dollars terms (converted
from NIS to U. S. Dollars based on the exchange rate as of May 16, 2024), and after the approval of the Board