Company: BNRG
Filing Date: 2025-08-04
Form Type: F-3
Source: 0001213900-25-071400
Chunk: 9

Company: Brenmiller Energy Ltd.
Filing Date: 2025-08-04
Form: F-3
Chunk 9
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 securities on another national securities exchange,
we expect our securities could be quoted on an over-the-counter market. If this were to occur, we could face significant material adverse
consequences, including:

| ● | a limited availability of market quotations for our securities;                                                                                                                                                                                                         |
| ● | reduced liquidity for our securities;                                                                                                                                                                                                                                   |
| ● | a decrease in the number of institutional and general investors that will consider investing in our Ordinary Shares;                                                                                                                                                    |
| ● | a determination that our ordinary shares are a “penny stock” which will require brokers trading in our Ordinary Shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities; |

Substantial future sales or other issuances of our Ordinary Shares could depress the market for our Ordinary Shares.

Sales of a substantial number
of Ordinary Shares and any future sales of a substantial number of Ordinary Shares in the public market, including the issuance of shares
or any shares issuable upon exercise of the Pre-Funded Warrants and Warrants, or the perception by the market that those sales could occur,
could cause the market price of our Ordinary Shares to decline or could make it more difficult for us to raise funds through the sale
of equity and equity-related securities in the future at a time and price that our management deems acceptable, or at all. In addition,
as opportunities present themselves, we may enter into financing or similar arrangements in the future, including the issuance of debt
securities, preferred shares or Ordinary Shares, which could also depress the market for our Ordinary Shares. We cannot predict the effect,
if any, that market sales of those Ordinary Shares or the availability of those shares for sale will have on the market price of our Ordinary
Shares.

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In connection with the July
2025 Private Placement, if shareholder approval is obtained, we will issue additional securities, which include Preferred Shares and accompanying
ordinary warrants, which will result in further dilution. In addition, under the terms of the July 2025 Securities Purchase Agreement,
subject to certain conditions and as long as any Preferred Shares or and accompanying ordinary warrants are outstanding, Alpha also has
the right to purchase additional preferred shares and warrants from the Company, which will result in further dilution as well.

You may experience future dilution as a result of future equity offerings and other issuances of our securities.

In order to raise additional
capital, we may in the future offer additional Ordinary Shares or other securities