Brainsway Ltd. (BWAY) Announces Proposed Public Offering of ADSs

February 22, 2021 4:03 PM EST

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BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in the advanced noninvasive treatment of brain disorders, today announced that it intends to offer American Depositary Shares, each representing two ordinary shares, in an underwritten public offering. BrainsWay also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the American Depositary Shares sold in the offering. All of the American Depositary Shares, and the underlying ordinary shares, will be offered by BrainsWay. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.

BrainsWay intends to use the net proceeds of the offering, together with its existing cash and cash equivalents, for commercial expansion and general corporate purposes, which may include working capital, research and development activities, commercialization and marketing activities, regulatory matters, capital investment and/or other related purposes.

The securities described above are being offered by BrainsWay pursuant to a shelf registration statement (File No. 333-248601) previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on October 16, 2020, and the accompanying prospectus contained therein. The offering of the American Depositary Shares will be made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC, and will be available on the SEC’s website at or by contacting Oppenheimer & Co. Inc. at 85 Broad Street, 26th Floor, New York, NY 10004, Attention: Equity Syndicate Prospectus Department, by e-mail at or by calling (212) 667-8055.

Before investing in the offering, you should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that BrainsWay has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about BrainsWay and the offering.

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