Brenmiller Energy sells 888,890 units to institutional investor

Brenmiller Energy announced it entered into a securities purchase agreement with a U.S. based institutional investor for the issuance and sale of 888,890 units, with each unit consisting of one ordinary share and one warrant to purchase one ordinary share at a price per unit of $4.50, for aggregate gross proceeds of approximately $4.0M before deducting placement agent fees and other offering expenses. The warrants will be exercisable immediately at a price of $5.00 per share and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about January 25. Brenmiller 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 is acting as the sole placement agent for the offering.