Brenmiller Energy Ltd. announced the closing of a private placement with an existing institutional investor, generating aggregate gross proceeds of $1.05 million. The company sold 1,000,000 ordinary shares at a price of $1.05 per share.
The offering price reflects a 52% premium to the closing price on August 2, 2024, and a 33% premium to the closing price on December 3, 2024. This premium indicates strong investor confidence in the company's valuation and future prospects.
The net proceeds from this private placement are intended for general corporate purposes, including working capital. The investor also retains the right to purchase an additional 1,000,000 ordinary shares if the company's shares close at or above $2.50 per share within the next 12 months.
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