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TEL AVIV - Brenmiller Energy Ltd. (NASDAQ:BNRG), a global provider of thermal energy storage solutions with a market capitalization of $6.4 million, has announced a public offering of ordinary shares and warrants, aiming to raise approximately $1.5 million. The offering includes 2,307,693 ordinary shares or pre-funded warrants, along with Series B and Series C warrants to purchase up to an equal number of ordinary shares, at a combined price of $0.65 per share and accompanying warrants. According to InvestingPro analysis, the stock appears undervalued at its current price of $0.79, despite experiencing significant volatility and a 39% decline year-to-date.
The Series B Warrants, exercisable immediately at $0.75 per share, will expire five years post-issuance, while the Series C Warrants, also exercisable immediately, will expire one year from the issuance date. The expected closing date for the offering is May 14, 2025, contingent on customary closing conditions.
Brenmiller Energy plans to allocate the net proceeds from this offering to general corporate purposes, including working capital and capital expenditures. This capital raise comes as InvestingPro data shows the company is quickly burning through cash, though maintaining a healthy current ratio of 2.25, indicating sufficient liquid assets to meet short-term obligations. A.G.P./Alliance Global Partners is the sole placement agent for the offering. InvestingPro subscribers have access to 15 additional key insights about BNRG’s financial health and market performance.
The offering is being conducted following a registration statement on Form F-1, effective as of May 12, 2025, filed with the Securities and Exchange Commission (SEC). The final prospectus related to the offering, when available, will be accessible on the SEC’s website.
Brenmiller Energy specializes in providing zero-emission heat through its patented bGen™ ZERO thermal battery. The company’s technology is designed to help industries and power producers transition away from fossil fuels by storing low-cost renewable electricity as heat, which can be released on demand.
This press release, containing forward-looking statements regarding the offering’s expected closing and the intended use of proceeds, is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Investors are cautioned to consider the various risks that may impact the company’s actual results, including market acceptance of its products, competitive pressures, and the social, economic, and political conditions in the Middle East. The company’s beta of -0.92 indicates its stock typically moves contrary to broader market trends, potentially offering portfolio diversification benefits. The forward-looking statements in this release are subject to risks and uncertainties, and the company does not undertake any obligation to update these statements following the date of this release.
In other recent news, Brenmiller Energy has announced a strategic shift in its corporate structure to accelerate its path to positive cash flow. The reorganization involves the creation of European subsidiaries aimed at attracting private capital while preserving public shareholder equity. Brenmiller Energy is capitalizing on a $500 million pipeline of commercial opportunities for its patented bGen thermal battery system. This development follows the nearing completion of its flagship Tempo project in Israel, highlighting the company’s commitment to clean energy technology. The company plans to launch new systems every 12 to 18 months as part of its technology roadmap through 2030.
Meanwhile, DarioHealth has announced the upcoming retirement of its Chief Financial Officer, Zvi Ben-David, effective May 15, 2025. Chen Franco-Yehuda will assume the roles of CFO, Treasurer, and Secretary, bringing extensive experience from her previous position at Pluri Inc. Ben-David will remain as an advisor until the end of June, expressing confidence in Franco-Yehuda’s ability to lead the company’s financial strategy. DarioHealth’s CEO, Erez Raphael, acknowledged Ben-David’s contributions and expressed optimism about Franco-Yehuda’s appointment. This transition is part of DarioHealth’s strategic plan to continue its growth in the digital health sector.
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