Brenmiller Energy Ltd. Announces Closing of $4 Million Offering
25 Gennaio 2024 - 10:37PM
Business Wire
Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy”, the
“Company”) (Nasdaq: BNRG), a global leader in thermal energy
storage (TES), announced today the closing of its previously
announced offering of 888,890 units (“Units”), with each Unit
consisting of one ordinary share, no par value per share (“Ordinary
Share”), of the Company (or pre-funded warrant in lieu thereof) and
one warrant to purchase one Ordinary Share, at a price per Unit of
$4.50, less $0.0001 for each pre-funded warrant and accompanying
warrant, for aggregate gross proceeds of approximately $4.0 million
before deducting placement agent fees and other offering expenses.
The warrants are exercisable immediately at a price of $5.00 per
share and will expire five years from the date of issuance.
The Company intends to use the net proceeds of this offering for
general and administrative corporate purposes, including working
capital and capital expenditures.
A.G.P./Alliance Global Partners acted as the sole placement
agent for the offering.
The securities described above were offered pursuant to a
registration statement on Form F-1 (File No. 333-275115) previously
filed with the Securities and Exchange Commission (“SEC”), which
became effective on January 22, 2024. The offering was made only by
means of a prospectus forming part of the effective registration
statement. An electronic copy of the final prospectus was filed
with the SEC and may be obtained on the SEC’s website located at
http://www.sec.gov and may also be obtained from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 28th Floor, New York, NY
10022, or by telephone at (212) 624-2060, or by email at
prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage
solutions and services that allow customers to cost-effectively
decarbonize their operations. Its patented bGen™ thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
They can then store this heat for minutes, hours, or even days
before using it for industrial and power generation processes. With
bGen™, organizations have a way to use electricity, biomass and
waste heat to generate the clean steam, hot water and hot air they
need to mold plastic, process food and beverages, produce paper,
manufacture chemicals and pharmaceuticals or drive steam turbines
without burning fossil fuels. For more information visit the
company’s website at https://bren-energy.com/ and follow the
company on X (formerly Twitter) and LinkedIn.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities laws.
Statements that are not statements of historical fact may be deemed
to be forward-looking statements. For example, the Company is using
forward-looking statements in this press release when it discusses
the intended use of net proceeds from the offering and the adoption
of new technologies like Brenmiller’s bGen™. Without limiting the
generality of the foregoing, words such as "plan," "project,"
"potential," "seek," "may," "will," "expect," "believe,"
"anticipate," "intend," "could," "estimate" or "continue" are
intended to identify forward-looking statements. Readers are
cautioned that certain important factors may affect the Company’s
actual results and could cause such results to differ materially
from any forward-looking statements that may be made in this press
release. Factors that may affect the Company’s results include, but
are not limited to: the Company’s planned level of revenues and
capital expenditures; risks associated with the adequacy of
existing cash resources; the demand for and market acceptance of
our products; impact of competitive products and prices; product
development, commercialization or technological difficulties; the
success or failure of negotiations; trade, legal, social and
economic risks; and political, economic and military instability in
the Middle East, specifically in Israel. The forward-looking
statements contained or implied in this press release are subject
to other risks and uncertainties, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s prospectus, dated January 22,
2024, which is available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240125988299/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
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