Brenmiller Energy announces pricing of $1.05M private placement

Brenmiller Energy Ltd. announced it entered into a securities purchase agreement with one of the company’s existing institutional investors for aggregate gross proceeds of approximately $1.05M. In connection with the private placement, the company will issue to the investor 1,000,000 ordinary shares of the company at a price of $1.05 per share, reflecting a 52% premium to the closing price for the company’s ordinary shares on Nasdaq on August 2, 2024. The closing of the private placement is subject to certain conditions, including the company obtaining consent from an existing lender within 90 days of signing the securities purchase agreement. Under the terms of the securities purchase agreement, the investor will also have the right to make a further investment for 1,000,000 additional ordinary shares in the event that the company’s ordinary shares close at or above $2.50 per share within the next 12 months. The company intends to use the net proceeds from the private placement for general corporate purposes, including working capital.