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ROSH HA’AYIN, Israel - Brenmiller Energy Ltd. (NASDAQ:BNRG), a provider of Thermal Energy Storage solutions, announced it will implement a 5-for-1 reverse share split after market close on Wednesday. The company’s stock, currently trading at $0.58, has declined over 41% in the past year, according to InvestingPro data.
The company’s ordinary shares will begin trading on a post-split basis on the Nasdaq Capital Market on June 20, 2025, under the existing "BNRG" symbol.
Following the reverse split, Brenmiller’s outstanding ordinary shares will decrease from 13,629,259 to 2,725,852 shares. The company’s authorized share capital will remain unchanged at 150,000,000 ordinary shares.
No fractional shares will be issued as a result of the split. According to the company’s Articles of Association, fractional shares will be rounded to the nearest whole share, with shareholders holding fractional consolidated shares of more than half of one consolidated share receiving one whole share.
The reverse share split was approved by Brenmiller’s shareholders at a Special General Meeting held on December 5, 2024.
Brenmiller Energy develops thermal battery technology that converts renewable electricity into heat for industrial and utility customers. The company operates what it describes as the world’s only gigafactory for thermal battery production. InvestingPro analysis reveals 11 additional key insights about the company’s performance and outlook, including detailed financial health metrics and growth indicators.
The information in this article is based on a press release statement from Brenmiller Energy.
In other recent news, Brenmiller Energy Ltd. has secured a €7 million deal for its bGen™ Thermal Energy Storage system as part of the SolWinHy Project in Spain. This project, which aims to develop green hydrogen and e-methanol facilities, received €25 million in funding from the European Hydrogen Bank. Brenmiller Energy also announced a public offering of ordinary shares and warrants to raise approximately $1.5 million, with A.G.P./Alliance Global Partners acting as the sole placement agent. The company plans to use the proceeds for general corporate purposes, including working capital and capital expenditures.
Additionally, Brenmiller Energy has outlined a new corporate structure to accelerate its path to positive cash flow by creating European subsidiaries. This restructuring aims to attract private capital and optimize financial profiles without diluting public shareholder equity. The company is nearing completion of its flagship Tempo project in Israel, which demonstrates its commitment to replacing fossil fuel boilers with clean energy technology. Meanwhile, DarioHealth Corp. has announced the retirement of CFO Zvi Ben-David, with Chen Franco-Yehuda set to assume the role. Franco-Yehuda’s appointment is part of a planned transition, and she brings extensive experience in financial strategy and capital markets to the company.
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