# EDGAR Filing Document

**Accession Number:** 0001837493
**File Stem:** 0001213900-25-086563
**Filing Date:** 2025-9
**Character Count:** 24426
**Document Hash:** 48a2622c5365c3d5c854dc291e306145
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-086563.hdr.sgml**: 20250910

**ACCESSION NUMBER**: 0001213900-25-086563

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250910

**DATE AS OF CHANGE**: 20250910

**EFFECTIVENESS DATE**: 20250910

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Inspira Technologies OXY B.H.N. Ltd
- **CENTRAL INDEX KEY:** 0001837493
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-290162
- **FILM NUMBER:** 251306305

**BUSINESS ADDRESS:**
- **STREET 1:** HATIDHAR 2
- **STREET 2:** 11TH FLOOR
- **CITY:** RA'ANANA
- **STATE:** L3
- **ZIP:** 4366504
- **BUSINESS PHONE:** 972-9-9664488

**MAIL ADDRESS:**
- **STREET 1:** HATIDHAR 2
- **STREET 2:** 11TH FLOOR
- **CITY:** RA'ANANA
- **STATE:** L3
- **ZIP:** 4366504

**As filed with the Securities and Exchange Commission on September 10, 2025**

**Registration No. 333 -** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**INSPIRA TECHNOLOGIES OXY B.H.N. LTD.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **State of Israel** | **Not applicable** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer <br> Identification No.) |

---

**2 Ha-Tidhar St., Ra'anana, 4366504 Israel**

(Address of Principal Executive Offices)

**Inspira Technologies OXY B.H.N. LTD.** 

**Amended and Restated 2019 Equity Incentive Plan**

(Full title of the plan)

**Puglisi & Associates**

**850 Library Ave., Suite 204, Newark, DE 19711**

**Tel: (302) 738-6680** 

(Name, Address and Telephone Number of Agent for Service)

COPIES TO:

---

| | |
|:---|:---|
| Oded Har-Even, Esq.<br> Ron Ben-Bassat, Esq.<br> Sullivan & Worcester LLP<br> 1251 Avenue of the Americas<br> New York, NY 10020<br> Tel: (212)-660-3000 | Adv. Reut Alfiah<br> Adv. Gal Cohen<br> Sullivan & Worcester Tel-Aviv (Har-Even & Co.)<br> 28 HaArba'a St. HaArba'a Towers<br> North Tower, 35th floor<br> Tel-Aviv, Israel 6473925<br> Tel: +972 74-758-0480 |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☐ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

On August 5, 2021, Inspira Technologies Oxy B.H.N. Ltd., or the Registrant or the Company, filed a Registration Statement on Form S-8 (File No. 333-259057), or the Original Registration Statement, with the Securities and Exchange Commission, or the SEC, to register an aggregate of 4,180,898 ordinary shares, no par value per share, of the Company, or the Ordinary Shares, that may be issued pursuant to the Company's 2019 Equity Incentive Plan, or the 2019 Plan. On March 15, 2024, the Company filed an additional Registration Statement on Form S-8 (File No. 333-277980) with the SEC to register an additional 2,997,671 Ordinary Shares that may be issued pursuant to the 2019 Plan. On March 5, 2025, the Company filed an additional Registration Statement on Form S-8 (File No. 333-285565) with the SEC to register an additional 3,000,000 Ordinary Shares that may be issued pursuant to the 2019 Plan.

The 2019 Plan was originally adopted by the board of directors of the Company in November 2019, amended in September 2021, and further amended and restated in March 2025, or the Amended and Restated 2019 Plan.

The Company is filing this Registration Statement on Form S-8, or this Registration Statement, to register an additional 1,184,910 Ordinary Shares reserved for issuance in connection with securities awards which may hereafter be granted under the Amended and Restated 2019 Plan.

Pursuant to General Instruction E to Form S-8, the contents of the Original Registration Statement are incorporated herein by reference, except for Items 3 and 8 of Part II of the Original Registration Statement, which are being updated by this Registration Statement.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the Plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended, or the Securities Act.

**PART II**

**ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE**

The following documents filed by the Company with the SEC are incorporated by reference into this Registration Statement:

● Our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on [March 10, 2025](http://www.sec.gov/Archives/edgar/data/1837493/000121390025022325/ea0233226-20f_inspira.htm) and as amended on [March 28, 2025](http://www.sec.gov/Archives/edgar/data/1837493/000101376225004105/ea0235908-20fa1_inspira.htm) ;

● Our Reports on Form 6-K furnished on [March 11, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025022474/ea0233937-6k_inspira.htm) (with respect to the first paragraph, the sections titled "Recent Business and Operational Highlights," "Full Year 2024 Financial Results" and "Forward-Looking Statements" of the press release attached therewith as Exhibit 99.1), [March 13, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025023722/ea0234133-6k_inspira.htm) , [March 14, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000101376225000316/ea0234433-6k_inspira.htm) , [March 14, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025024178/ea0234381-6k_inspira.htm) , [March 25, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000101376225001866/ea0235570-6k_inspira.htm) (with respect to the first, second, fourth, and fifth paragraphs and the section titled "Forward-Looking Statements"), [April 7, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025029402/ea0237333-6k_inspira.htm) (with respect to the first, second, and fifth paragraphs and the section titled "Forward-Looking Statements"), [April 10, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025030673/ea0237837-6k_inspira.htm) , [April 15, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025031782/ea0238307-6k_inspira.htm) (with respect to the first, second, and fourth paragraphs and the section titled "Forward-Looking Statements"), [April 23, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025034345/ea0239203-6k_inspira.htm) (with respect to the first three and fifth paragraphs and the section titled "Forward-Looking Statements"), [May 7, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025040436/ea0241039-6k_inspira.htm) (with respect to the first three and fifth paragraphs and the section titled "Forward-Looking Statements"), [May 12, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025042012/ea0241780-6k_inspira.htm) , [May 27, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025047792/ea0243475-6k_inspira.htm) (with respect to the first, second, fifth and sixth paragraphs and the section titled "Forward-Looking Statements"), [May 29, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025048546/ea0243804-6k_inspira.htm) (with respect to the first, second, fourth, fifth and sixth paragraphs and the section titled "Forward-Looking Statements"), [May 30, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025049456/ea0244032-6k_inspira.htm) , [June 5, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025051371/ea0244808-6k_inspira.htm) (with respect to the first, second, fourth and fifth paragraphs and the section titled "Forward-Looking Statements"), [June 11, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025053290/ea0245402-6k_inspira.htm) , [June 23, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025056713/ea0246042-6k_inspira.htm) , [July 1, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025060005/ea0247647-6k_inspira.htm) , [July 2, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025060734/ea0247978-6k_inspira.htm) (with respect to the first, second, and fifth paragraphs and the section titled "Forward-Looking Statements"), [July 7, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025061642/ea0248259-6k_inspira.htm) (with respect to the first three paragraphs and the section titled "Forward-Looking Statements"), [July 10, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025062552/ea0248531-6k_inspira.htm) (with respect to the first two paragraphs and the section titled "Forward-Looking Statements"), [July 17, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025065216/ea0249344-6k_inspira.htm) , [July 18, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025065343/ea0249471-6k_inspira.htm) (with respect to the first two paragraphs and the section titled "Forward-Looking Statements"), [July 31, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025069677/ea0250593-6k_inspiratech.htm) (with respect to the first, second, and fourth paragraphs and the section titled "Forward-Looking Statements"); [August 19, 2025](http://www.sec.gov/Archives/edgar/data/1837493/000121390025078166/ea0253746-6k_inspira.htm) (with respect to the first, second, and fourth paragraphs and the section titled "Forward-Looking Statements"), [August 22, 2025](http://www.sec.gov/Archives/edgar/data/1837493/000121390025079586/ea0254314-6k_inspira.htm) (with respect to the first, second, and fourth paragraphs and the section titled "Forward-Looking Statements") and [September 2, 2025](https://www.sec.gov/Archives/edgar/data/1837493/000121390025082964/ea0255477-6k_inspira.htm) (with respect to the first, second, and fourth paragraphs and the section titled "Forward-Looking Statements"); and

● The description of our securities contained in [Exhibit 2.1](http://www.sec.gov/Archives/edgar/data/1837493/000121390024025316/ea020216701ex2-1_inspira.htm) to our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on March 10, 2025, and as amended on March 28, 2025.

In addition to the foregoing, all documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act and all reports on Form 6-K subsequently filed by the Registrant which state that they are incorporated by reference herein, prior to the filing of a post-effective amendment which indicates that all securities offered hereunder have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents and reports.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement herein, or in any subsequently filed document which also is or is deemed to be incorporated by reference, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

---

| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |
| 4.1 | [Amended and Restated Articles of Association of Inspira Technologies Oxy B.H.N. Ltd. (incorporated by reference to Exhibit 99.1 to the Company's Report on Form 6-K (File No. 001-40303) filed on December 20, 2021).](http://www.sec.gov/Archives/edgar/data/1837493/000121390021066318/ea152692ex99-1_inspiratech.htm) |
| 5.1\* | [Opinion of Sullivan & Worcester Tel Aviv (Har-Even & Co.)](ea025493801ex5-1_inspira.htm) |
| 23.1\* | [Consent of Ziv Haft, member firm of BDO, independent registered public accounting firm.](ea025493801ex23-1_inspira.htm) |
| 23.2\* | [Consent of Sullivan & Worcester Tel Aviv (Har-Even & Co.) (included in the opinion filed as Exhibit 5.1 to this Registration Statement)](ea025493801ex5-1_inspira.htm) |
| 24.1\* | [Power of Attorney (included on signature page)](#l_001) |
| 99.1 | <u>[Amended and Restated Inspira Technologies Oxy B.H.N. Ltd. 2019 Equity Incentive Plan (incorporated by reference to Exhibit 99.1 to the Company's Form S-8 (File No. 333-285565) filed on March 5, 2025).](http://www.sec.gov/Archives/edgar/data/1837493/000121390025020699/ea023315301ex99-1_inspira.htm)</u> |
| 107\* | [Filing Fee Table.](ea025493801ex-fee_inspira.htm) |

---

\* Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in Ra'anana, Israel, on September 10, 2025.

---

| | | |
|:---|:---|:---|
| **INSPIRA TECHNOLOGIES OXY B.H.N. LTD.** | **INSPIRA TECHNOLOGIES OXY B.H.N. LTD.** | **INSPIRA TECHNOLOGIES OXY B.H.N. LTD.** |
| By: | /s/ Dagi Ben-Noon | /s/ Dagi Ben-Noon |
|  | Name: | Dagi Ben-Noon |
|  | Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY AND SIGNATURES**

We, the undersigned officers and directors of Inspira Technologies Oxy B.H.N. Ltd., hereby severally constitute and appoint Dagi Ben-Noon and Yafit Tehila, and each of them individually, our true and lawful attorney to sign for us and in our names in the capacities indicated below any and all amendments or supplements, including any post-effective amendments, to this Registration Statement on Form S-8 and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming our signatures to said amendments to this Registration Statement signed by our said attorney and all else that said attorney may lawfully do and cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement on Form S-8 has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Dagi Ben-Noon | Chief Executive Officer and Director | September 10, 2025 |
| Dagi Ben-Noon | (Principal Executive Officer) |  |
| /s/ Yafit Tehila | Chief Financial Officer | September 10, 2025 |
| Yafit Tehila | (Principal Financial and Accounting Officer) |  |
| /s/ Tal Parnes | Chairman of the Board of Directors | September 10, 2025 |
| Tal Parnes |  |  |
| /s/ Lior Amit | Director | September 10, 2025 |
| Lior Amit |  |  |
| /s/ Limor Rozen | Director | September 10, 2025 |
| Limor Rozen  |  |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act, the undersigned, Puglisi & Associates, the duly authorized representative in the United States of Inspira Technologies Oxy B.H.N. Ltd., has signed this Registration Statement on Form S-8 on September 10, 2025.

---

| | |
|:---|:---|
| Puglisi & Associates | Puglisi & Associates |
| Authorized U.S. Representative | Authorized U.S. Representative |
| /s/ Donald J. Puglisi | /s/ Donald J. Puglisi |
| Name: | Donald J. Puglisi |
| Title: | Managing Director |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | | |
|:---|:---|:---|
| ![](ex5-1_001.jpg) | **Sullivan & Worcester Tel Aviv**<br> 28 HaArba'a St. HaArba'a Towers<br> North Tower, 35th Floor<br> Tel-Aviv, Israel | +972-747580480<br> sullivanlaw.com |

---

September 10, 2025

To:

Inspira Technologies Oxy B.H.N. Ltd.

2 Ha-Tidhar St.

Ra'anana, 4366504, Israel

---

| | |
|:---|:---|
| Re: | **<u>Registration Statement on Form S-8</u>** |

---

Ladies and Gentlemen:

We have acted as Israeli counsel for Inspira Technologies Oxy B.H.N. Ltd., an Israeli company (the "**Company**"), in connection with the Registration Statement on Form S-8 (the "**Registration Statement**") filed by the Company on the date hereof with the U.S. Securities and Exchange Commission (the "**SEC**") under the Securities Act of 1933, as amended (the "**Securities Act**"). The Registration Statement relates to the registration of 1,184,910 ordinary shares, no par value, of the Company (the "**Ordinary Shares**"), reserved for issuance in connection with securities awards which may be granted under the Company's Amended and Restated 2019 Equity Incentive Plan (the "**Plan**").

In connection herewith, we have examined the originals, or photocopies or copies, certified or otherwise identified to our satisfaction, of: (i) the Registration Statement to which this opinion is attached as an exhibit; (ii) a copy of the amended and restated articles of association of the Company (the "**Articles**"), as currently in effect; (iii) resolutions of the board of directors which relate to the Registration Statement and the Plan; and (iv) such other corporate records, agreements, documents and other instruments, and such certificates or comparable documents of public officials and of officers and representatives of the Company as we have deemed relevant and necessary as a basis for the opinions hereafter set forth. We have also made inquiries of such officers and representatives as we have deemed relevant and necessary as a basis for the opinions hereafter set forth.

In such examination, we have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified, confirmed as photostatic copies and the authenticity of the originals of such latter documents. As to all questions of fact material to these opinions that have not been independently established, we have relied upon certificates or comparable documents of officers and representatives of the Company. In addition, we have assumed that the Ordinary Shares and any equity awards that provide for the acquisition thereof will be granted in accordance with the Plan and Articles.

We are members of the Israel Bar Association and we express no opinion as to any matter relating to the laws of any jurisdiction other than the laws of the State of Israel and have not, for the purpose of giving this opinion, made any investigation of the laws of any other jurisdiction than the State of Israel.

Based upon and subject to the foregoing, we are of the opinion that the Ordinary Shares issuable under the Plan have been duly authorized and, when and if issued and paid for in accordance with the terms of the Plan, will be validly issued, fully paid and non-assessable.

We consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm wherever appearing in the Registration Statement in connection with Israeli law. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act, the rules and regulations of the SEC promulgated thereunder or Item 509 of the SEC's Regulation S-K under the Securities Act.

Very truly yours,

---

| |
|:---|
| /s/ Sullivan & Worcester Tel-Aviv (Har-Even & Co.) |
| Sullivan & Worcester Tel-Aviv (Har-Even & Co.) |

---

## Exhibit 23.1

**Exhibit 23.1**

<u>Consent of Independent Registered Public Accounting Firm</u>

Inspira Technologies Oxy B.H.N. Ltd.

2 Ha-Tidhar St.

Rananna 4366504, Israel

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 6, 2025, relating to the financial statements of Inspira Technologies OXY B.H.N. Ltd. appearing in the Company's Annual Report on Form 20-F for the year ended December 31, 2024. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

---

| |
|:---|
| /s/ Ziv Haft<br>|
| Certified Public Accountants (Isr.) |
| BDO Member Firm |

---

Tel Aviv, Israel

September 10, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**Inspira Technologies OXY B.H.N. Ltd**

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Equity | Ordinary Shares, no par value per share | (1) | Other | 1184910 | $1.14 | $1356722.00 | 0.0001531 | $207.71 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $1356722.00 |  | 207.71 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  | 0.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $207.71 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, or the Securities Act, this Registration Statement also covers an indeterminate number of additional securities which may be offered and issued to prevent dilution resulting from stock splits, stock dividends, recapitalizations or similar transactions. Represents ordinary shares, no par value, of Inspira Technologies Oxy B.H.N. Ltd., or Ordinary Shares and the Registrant, respectively, reserved for issuance in connection with securities awards that may be granted under the Company's Amended and Restated 2019 Equity Incentive Plan, or the Amended and Restated 2019 Plan, to which this Registration Statement relates. The fee is based on the number of Ordinary Shares which may be issued in connection with securities awards that may be granted under the Amended and Restated 2019 Plan that this Registration Statement on Form S-8 relates to and is estimated in accordance with Rule 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee based upon the average of the high and low sales price of the Registrant's Ordinary Shares as reported on the Nasdaq Capital Market on September 4, 2025.