Company: BWAY
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001171843-25-006185
Chunk: 20

Company: Brainsway Ltd.
Filing Date: 2025-09-30
Form: 6-K
Chunk 20
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. Under the terms of the
definitive agreement, we invested $5 million in Stella, and received a minority position in the company in the form of a preferred,
annually compounding security. The agreement also provides for a redemption mechanism relating to the shares.

Acquisition of Minority Stake in Axis Integrated Mental Health

On August 19, 2025, we entered into a strategic equity financing
agreement with Axis Management Company, Inc. (“Axis”), a management services organization servicing several mental health
clinics in Colorado. Under the terms of the agreement, we initially invested $2.3 million, and may invest an additional potential $1 million
milestone-based investment, for a minority position in Axis in the form of a preferred, annually compounding security. The agreement also
provides for a redemption mechanism relating to the shares.

Investment in Neurolief Ltd.

On August 18, 2025, we entered into an initial
strategic investment by means of a $5 million convertible loan to, along with an option to acquire, Neurolief Ltd. (“Neurolief”),
developer of the world’s first wearable, non-invasive, multi-channel brain neuromodulation platform that is designed for use at
home. Beyond the initial $5 million convertible loan, the agreement provides for potential additional milestone-based funding to Neurolief,
including a second tranche of up to a $6 million convertible loan upon FDA approval of Neurolief’s Proliv Rx system for MDD treatment,
and a third tranche consisting of up to a $5 million equity investment upon Neurolief achieving an agreed-upon revenue milestone. We were
also granted a “call option” to acquire all outstanding equity interests in Neurolief during clearly defined exercise windows,
at a price based on the greater of a specified enterprise value or a revenue multiple, with the values varying depending on timing of
exercise.

Components of Our Results of Operations

Revenues

We derive our revenues from the lease and sale of our Deep TMS systems. We offer
the following main pricing models:

| ● | Sale Model: The Deep TMS system is sold to the customer for a 
 fixed purchase price.                                         |

| ● | Fixed-fee Lease Model: The customer leases the Deep TMS system and pays                       
 a fixed annual or monthly fee for the term of the lease (generally between 48 and 60 months). |

Additional revenues may be generated from certain customers
in certain territories who are or