Brenmiller Energy Signs Private Placement Agreement for up to $25 Million Equity Financing
Brenmiller Energy (NASDAQ:BNRG), a thermal energy storage solutions provider, has secured a significant private placement agreement with Alpha Capital Anstalt for up to $25 million in equity financing.
The deal structure includes an initial $1.2 million closing with pre-funded and ordinary warrants, followed by a $3.8 million equity closing subject to shareholder approval. Alpha Capital also receives additional investment rights for up to $20 million. With full warrant exercises, the total financing could reach $50 million.
The financing includes preferred shares convertible at $2.288 per share and various warrants with exercise prices ranging from $0.00001 to $2.40. Proceeds will support working capital and TES projects across Europe, U.S., and Middle East.
Brenmiller Energy (NASDAQ:BNRG), fornitore di soluzioni per lo stoccaggio di energia termica, ha ottenuto un importante accordo di collocamento privato con Alpha Capital Anstalt per un finanziamento azionario fino a 25 milioni di dollari.
La struttura dell'accordo prevede una chiusura iniziale di 1,2 milioni di dollari con warrant pre-finanziati e ordinari, seguita da una chiusura azionaria di 3,8 milioni di dollari soggetta all'approvazione degli azionisti. Alpha Capital riceve inoltre diritti di investimento aggiuntivi fino a 20 milioni di dollari. Con l'esercizio completo dei warrant, il finanziamento totale potrebbe raggiungere 50 milioni di dollari.
Il finanziamento comprende azioni privilegiate convertibili a 2,288 dollari per azione e vari warrant con prezzi di esercizio che vanno da 0,00001 a 2,40 dollari. I proventi sosterranno il capitale operativo e i progetti TES in Europa, Stati Uniti e Medio Oriente.
Brenmiller Energy (NASDAQ:BNRG), proveedor de soluciones de almacenamiento de energ铆a t茅rmica, ha asegurado un acuerdo significativo de colocaci贸n privada con Alpha Capital Anstalt para una financiaci贸n en acciones de hasta 25 millones de d贸lares.
La estructura del acuerdo incluye un cierre inicial de 1,2 millones de d贸lares con warrants prefinanciados y ordinarios, seguido de un cierre de capital de 3,8 millones de d贸lares sujeto a la aprobaci贸n de los accionistas. Alpha Capital tambi茅n recibe derechos adicionales de inversi贸n por hasta 20 millones de d贸lares. Con el ejercicio completo de los warrants, la financiaci贸n total podr铆a alcanzar los 50 millones de d贸lares.
La financiaci贸n incluye acciones preferentes convertibles a 2,288 d贸lares por acci贸n y varios warrants con precios de ejercicio que van desde 0,00001 a 2,40 d贸lares. Los fondos se utilizar谩n para apoyar el capital de trabajo y proyectos TES en Europa, Estados Unidos y Medio Oriente.
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Brenmiller Energy (NASDAQ:BNRG), fournisseur de solutions de stockage d'茅nergie thermique, a conclu un accord important de placement priv茅 avec Alpha Capital Anstalt pour un financement en actions allant jusqu'脿 25 millions de dollars.
La structure de l'accord comprend une cl么ture initiale de 1,2 million de dollars avec des bons de souscription pr茅financ茅s et ordinaires, suivie d'une cl么ture en actions de 3,8 millions de dollars soumise 脿 l'approbation des actionnaires. Alpha Capital b茅n茅ficie 茅galement de droits d'investissement suppl茅mentaires pouvant atteindre 20 millions de dollars. Avec l'exercice complet des bons, le financement total pourrait atteindre 50 millions de dollars.
Le financement comprend des actions privil茅gi茅es convertibles 脿 2,288 dollars par action et divers bons de souscription avec des prix d'exercice allant de 0,00001 脿 2,40 dollars. Les fonds serviront 脿 soutenir le fonds de roulement et les projets TES en Europe, aux 脡tats-Unis et au Moyen-Orient.
Brenmiller Energy (NASDAQ:BNRG), ein Anbieter von thermischen Energiespeicherl枚sungen, hat eine bedeutende Privatplatzierungsvereinbarung mit Alpha Capital Anstalt 眉ber eine Eigenkapitalfinanzierung von bis zu 25 Millionen US-Dollar abgeschlossen.
Die Struktur des Deals umfasst einen ersten Abschluss von 1,2 Millionen US-Dollar mit vorfinanzierten und gew枚hnlichen Warrants, gefolgt von einem Eigenkapitalabschluss 眉ber 3,8 Millionen US-Dollar, der der Zustimmung der Aktion盲re bedarf. Alpha Capital erh盲lt au脽erdem zus盲tzliche Investitionsrechte von bis zu 20 Millionen US-Dollar. Bei vollst盲ndiger Aus眉bung der Warrants k枚nnte die Gesamtfinanzierung 50 Millionen US-Dollar erreichen.
Die Finanzierung beinhaltet Vorzugsaktien, die zu 2,288 US-Dollar pro Aktie wandelbar sind, sowie verschiedene Warrants mit Aus眉bungspreisen von 0,00001 bis 2,40 US-Dollar. Die Erl枚se werden zur Unterst眉tzung des Betriebskapitals und von TES-Projekten in Europa, den USA und dem Nahen Osten verwendet.
- Secured significant funding up to $25 million with potential to reach $50 million
- Strong commitment from largest shareholder Alpha Capital Anstalt
- Immediate access to $1.2 million in initial funding
- Funds will support commercial TES project execution across multiple regions
- Significant shareholder dilution through preferred shares and warrants issuance
- Complex financing structure requiring shareholder approval
- Restricted securities with limited transferability due to Securities Act requirements
- Potential pressure on stock price due to conversion and warrant exercise rights
Insights
Brenmiller secures crucial $25M staged financing from its major shareholder, significantly improving liquidity while substantially diluting existing shareholders.
This $25 million private placement agreement with Alpha Capital Anstalt represents a critical lifeline for Brenmiller Energy's operations and project execution. The structured financing includes an immediate $1.2 million through pre-funded warrants, a potential additional $3.8 million subject to shareholder approval, and up to $20 million in additional investment rights.
The financing structure reveals important insights about Brenmiller's current position. The use of pre-funded warrants rather than direct equity investment in the initial tranche indicates Alpha's cautious approach, providing immediate capital while limiting downside risk. The substantial 24.99% dilution threshold requiring shareholder approval suggests significant potential ownership changes.
The conversion pricing is particularly telling. The $2.288 conversion price for preferred shares and $2.09-$2.40 exercise prices for various warrants indicate the valuation parameters Alpha has placed on the company. These complex terms with multiple tranches, conditions, and conversion mechanisms typically appear in financing arrangements for companies with limited alternatives.
While this capital infusion enables Brenmiller to execute its commercial thermal energy storage projects across three regions, the complex financing structure with deferred equity conversion suggests financial constraints. The agreement extends over two years with additional potential funding up to $15 million through warrant exercises, which could ultimately result in $50 million total financing if all options are exercised.
The required shareholder approval represents a critical milestone for accessing the full financing package. Without this approval, the company would be limited to the initial $1.2 million, significantly constraining its operational capabilities. This financing package secures Brenmiller's near-term working capital needs while creating a framework for potential long-term funding.
Alpha Capital Anstalt, Brenmiller Energy's largest shareholder and long-standing investor, reinforces its strong commitment to the Company's long-term strategy
The Company will receive
Alpha Capital Anstalt has Additional Investment Rights for up to
DIMONA, ISRAEL / / July 28, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (Nasdaq:BNRG), a leading global provider of thermal energy storage ("TES") solutions for industrial and utility customers, today announced it has entered into a securities purchase agreement (the "Securities Purchase Agreement") with Alpha Capital Anstalt ("Alpha"). Pursuant to the terms of the Securities Purchase Agreement, the Company agreed to issue and sell to Alpha, subject to certain conditions, up to an aggregate of
At the initial closing, expected to take place on or about July 28, 2025, for a subscription amount of
Subject to receipt of certain shareholder approvals, the Company will issue preferred shares with a stated value of
The proceeds from the financing will be used for general corporate purposes, working capital, and execution of Brenmiller's commercial TES projects across Europe, the U.S., and the Middle East.
Under the terms of the Securities Purchase Agreement, subject to certain conditions and as long as any Preferred Shares or Additional Ordinary Warrants are outstanding, Alpha also has the right to purchase additional preferred shares and warrants from the Company up to an additional
The Securities Purchase Agreement also provides for certain additional fundings by Alpha after the Equity Closing which can come in the form of warrant exercises, Subsequent Financing or other financing arranged by Alpha (the "Additional Funding"), subject to certain conditions, up to
Approval of the Company's shareholders is required for the Equity Closing under the Company's constitutive documents and applicable law allowing for, among other things, the issuance of the Preferred Shares, including all the underlying shares, and for the Company to issue in excess of
In addition, on July 25, 2025, the Company entered into two separate Registration Rights Agreements with Alpha pertaining to (i) the resale of the ordinary shares issuable upon exercise of the warrants issued at the Pre-Funded Warrants Closing and (ii) the resale of the ordinary shares issuable upon conversion of the Preferred Shares and exercise of the Additional Ordinary Warrants to be issued at the Equity Closing. The Company agreed to file these registration statements with the U.S. Securities and Exchange Commission and maintain their effectiveness within specified timeframes.
The securities are being offered pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended, or the Securities Act, and Rule 506(b) of Regulation D promulgated thereunder. The securities have not been registered under the Securities Act or applicable state securities laws. Accordingly, once issued, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About bGen鈩�
bGen鈩� ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen鈩� ZERO charges by capturing low-cost electricity from renewables or the grid and stores it in crushed rocks. It then discharges steam, hot water, or hot air on demand according to customer requirements. The bGen鈩� ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen鈩� ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen鈩� ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on and .
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company uses forward-looking statements when it discusses: the Company's ability to raise up to
Contact: [email protected]
SOURCE: Brenmiller Energy
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FAQ
What is the total value of Brenmiller Energy's (BNRG) private placement agreement with Alpha Capital?
How much immediate funding will Brenmiller Energy receive from the private placement?
What is the conversion price for the preferred shares in BNRG's private placement?
How will Brenmiller Energy use the proceeds from the private placement?
What additional rights does Alpha Capital have in the BNRG financing agreement?
