24/7 Market News Snapshot 04 December, 2024 – Brenmiller Energy Ltd Ordinary Shares (NASDAQ:BNRG)

December 4, 2024

DENVER, Colo., 04 December, 2024 (247marketnews.com) – (NASDAQ:BNRG) are discussed in this article.
Brenmiller Energy Ltd. (BNRG) is experiencing positive momentum, currently trading at $0.786 in the pre-market, reflecting a slight increase of approximately 0.09% from the previous day’s close. The trading volume has reached 7.67 million shares, indicating a strong interest from investors. Technical analysis suggests that BNRG could be poised for further growth, particularly if it can break through established resistance levels. Investors are advised to keep an eye on critical support zones and overall market sentiment, as these factors may significantly influence future price trends.

In a significant development, Brenmiller has successfully completed a private placement with an existing institutional investor, raising gross proceeds of $1.05 million. The company issued 1,000,000 ordinary shares at a subscription price of $1.05, which reflects a 52% premium over the last closing price prior to the agreement. This investment underscores strong confidence in Brenmiller’s innovative thermal energy storage solutions and their potential impact in the market.

The capital raised will be directed towards general corporate purposes, reinforcing Brenmiller’s ongoing commitment to delivering sustainable energy solutions tailored for energy-intensive sectors and power producers. The company’s flagship product, the bGen™ thermal battery, represents a significant leap in energy efficiency, facilitating a transition from fossil fuel reliance to clean, renewable energy alternatives.

The securities sold in the placement have not been registered under the U.S. Securities Act of 1933, and registration rights for the shares will be provided to the investor. Brenmiller plans to file a registration statement with the U.S. Securities and Exchange Commission within thirty days to ensure compliance. With the only gigafactory for thermal battery production operating globally, Brenmiller is at the forefront of the thermal energy sector and is committed to driving industries toward a sustainable, zero-emission future.

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