Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 74

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 74
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 cannot be certain that such approval will be obtained
on terms that are acceptable to us, or at all. Furthermore, in the event that we undertake a transaction involving the transfer to a non-Israeli
entity of know-how developed with IIA funding pursuant to a merger or similar transaction, or in the event we undertake a transaction
involving the licensing of the IIA’s Funded Know-How, the consideration available to our shareholders may be reduced by the amounts
we are required to pay to the IIA. Any approval, if given, will generally be subject to additional financial obligations. Failure to comply
with the requirements under the IIA’s rules and guidelines and the Innovation Law may subject us to mandatory repayment of grants
received by us (together with interest and penalties), as well as expose us to criminal proceedings.

  42  

Enforcing
a U. S. judgment against us and our current senior management and directors, or asserting U. S. securities law claims in Israel, may be
difficult.

We are incorporated in Israel. Our directors and
some members of our management reside in Israel (and most of our assets reside outside of the United States). Therefore, a judgment obtained
against us or any of these persons in the United States, including one based on the civil liability provisions of the U. S. federal securities
laws, may not be collectible in the United States, and may not be enforced by an Israeli court. It may also be difficult to effect service
of process on these persons in the United States or to assert U. S. securities law claims in original actions instituted in Israel.

Even if an Israeli court agrees to hear such a claim,
it may determine that Israeli, and not U. S., law is applicable to the claim. Under Israeli law, if U. S. law is found to be applicable
to such a claim, the content of applicable U. S. law must be proved as a fact, which can be a time-consuming and costly process, and certain
matters of procedure would be governed by Israeli law. There is little binding case law in Israel addressing these matters.

Israeli law
and tax considerations may delay, prevent or make difficult an acquisition of us, which could prevent a change of control and negatively
affect the price of the ADSs.

Israeli corporate law regulates mergers, requires
tender offers for acquisitions of shares above specified thresholds, requires special approvals for certain transactions involving directors,
officers or significant shareholders and regulates other matters