Company: BNRG
Filing Date: 2025-04-09
Form Type: DRS
Source: 0001213900-25-030015
Chunk: 32

Company: Brenmiller Energy Ltd.
Filing Date: 2025-04-09
Form: DRS
Chunk 32
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 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 $ million, representing $ per
Ordinary Share. At the assumed public offering price for this offering of $ per Ordinary Share and
accompanying Warrant, which was the last reported sale price on Nasdaq of our Ordinary Shares on , 2025,
set forth on the cover page of this prospectus, this represents an immediate increase in historical net tangible book value of $ per
Ordinary Share to existing shareholders and an immediate dilution in net tangible book value of $ 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:

| Assumed public offering price per Ordinary Share                                                           |     | $ |      |
| Net tangible book value per Ordinary Share as of December 31, 2024                                         |     | $ | 0.55 |
| Pro forma net tangible book value per Ordinary Share                                                       |     | $ |      |
| Increase in pro forma as adjusted net tangible book value per Ordinary Share attributable to new investors |     | $ |      |
| Pro forma as adjusted net tangible book value per Ordinary Share                                           |     | $ |      |
| Dilution per Ordinary Share to new investors                                                               |     | $ |      |
| Percentage of dilution in net tangible book value per Ordinary Share for new investors                     |     |   |      |

The dilution information set
forth in the table above is illustrative only, assumes no Pre-Funded Warrants are sold in this offering, and will be adjusted based on
the actual public offering price and other terms of this offering determined at pricing.

A $0.20 increase or decrease
in the assumed public offering price of $ per Ordinary Share would increase or decrease our pro forma as adjusted net tangible book value after this offering by approximately $ million and the as adjusted net tangible
book value per Ordinary Share after this offering by $ and would increase or decrease the dilution
per Ordinary Share to new investors by $ , assuming the number of Ordinary Shares and accompanying Warrants
offered by us, as set forth on the cover page of this