Company: BWAY
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001171843-25-006185
Chunk: 29

Company: Brainsway Ltd.
Filing Date: 2025-09-30
Form: 6-K
Chunk 29
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 BrainsWay
Holdings, LLC (“Valor”), consummated on November 5, 2024, we issued Valor a warrant to purchase 1,500,000 ADSs (the “Valor
Warrant”), at an exercise price of $9.50686 per ADS , or the Valor Warrant Exercise Price. The Valor Warrant became exercisable
upon issuance thereof at the closing of the Valor investment and will remain exercisable for 18 months after the initial issuance date,
or the Exercise Period. Under the Valor Warrant, if at any time during the Exercise Period, the ADS closing price of any thirty (30) consecutive
trading day period exceeds the Valor Warrant Exercise Price by 40% or more, Valor shall be required to fully exercise the Valor Warrant
within five (5) trading days. During the six months ended June 30, 2025, we entered into an amendment to the Valor Warrant which, among
other amendments, removed the cashless exercise feature from the Valor Warrant, resulting in a reclassification of the Valor Warrant from
liability (as of December 31, 2024) to equity (as of June 30, 2025).

#### Research and Development,
Patents, and Licenses

No significant changes with respect to our research and development
efforts occurred during the six months ended June 30, 2025. For descriptions of our research and development, patent and licenses, please
see “Item 5. Operating and Financial Review and Prospects— C. Research and Development, Patents, and Licenses” in our
2024 Annual Report

Trend Information

No significant changes with respect to trends occurred during the
six months ended June 30, 2025. For descriptions of our trend information, please see “Item 5. Operating and Financial Review and
Prospects— D. Trend Information” in our 2024 Annual Report.

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