Brenmiller Energy Secures $25 Million Equity Financing with Alpha Capital Anstalt

Brenmiller Energy has signed a private placement agreement with Alpha Capital Anstalt for up to $25 million in equity financing. The initial closing will receive $1.2 million, with an additional $3.8 million subject to certain conditions. Alpha has additional investment rights for up to $20 million. The proceeds will be used for general corporate purposes, working capital, and commercial TES projects.

Brenmiller Energy (NASDAQ: BNRG), a leading provider of thermal energy storage (TES) solutions, has signed a private placement agreement with Alpha Capital Anstalt for up to $25 million in equity financing. The agreement includes an initial closing of $1.2 million, with an additional $3.8 million subject to shareholder approval. Alpha Capital Anstalt also has the right to invest up to $20 million more, potentially bringing the total financing to $50 million if all options are exercised [1].

The financing will be used for general corporate purposes, working capital, and the execution of Brenmiller's commercial TES projects across Europe, the U.S., and the Middle East. The deal structure includes preferred shares convertible at $2.288 per share and various warrants with exercise prices ranging from $0.00001 to $2.40 [1].

The agreement represents a significant lifeline for Brenmiller Energy's operations and project execution. The use of pre-funded warrants 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 complex financing structure with deferred equity conversion suggests financial constraints [1].

The agreement extends over two years with additional potential funding up to $15 million through warrant exercises. 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 [1].

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 $1.2 million in an initial closing and an additional $3.8 million subject to certain conditions. 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 [1].

References:
[1] https://www.stocktitan.net/news/BNRG/brenmiller-energy-signs-private-placement-agreement-for-up-to-25-c77nkb8lsruj.html