BrainsWay Ltd announces proposed public offering of American Tel Aviv Exchange investment shares: BWAY.TA

CRESSKILL, NJ and JERUSALEM, February 22, 2021 (GLOBE NEWSWIRE) – BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive treatment of brain disorders, announced today that it intends to offer American Investment Shares, each representing two standard share, in a subscription public offering. BrainsWay also plans to give subscribers a 30-day option to purchase up to 15% more of the American Investment Shares sold in the offer. All American Investment Shares, and the underlying ordinary shares, are offered by BrainsWay. The proposed offer is subject to market and other conditions, and it is not possible to be certain whether or when the offer will be completed, or as to the size or conditions of the offer.

Tha Oppenheimer & Co. Inc. acting as the sole book-running manager for the offer.

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

The securities described above are offered by BrainsWay in accordance with a shelf registration statement (file No. 333-248601) previously filed and effectively cited by the Securities and Exchange Commission. (the “SEC”) on 16 October 2020, accompanied by a guide. The American Depository Shares are offered with a guidebook, including a guidebook, which is part of the effective registration statement. A preview and the accompanying preview relating to and describing the terms of the offer will be registered with the SEC, and will be available on the SEC website at http: / / or by contacting Oppenheimer & Co. Inc. . at 85 Broad Street, 26th Floor, New York, NY 10004, Note: Prospectus Equity Syndicate Department, by email at [email protected] or by calling (212) 667-8055.

Before investing in the offer, you should read in full the foresight and accompanying preview and other documents that BrainsWay has filed with the SEC that are filed with a description in the preview and the accompanying guide, which will provide more information. about BrainsWay and the offer.

This press release shall not be an offer to sell or an offer to purchase any of the securities described herein, and no sale of such securities shall be contained in any state or jurisdiction in which the that offer, claim or sale is illegal. before registering or obtaining a certificate under such state security laws or jurisdiction.

About BrainsWay

BrainsWay is a commercial platform medical device company with a focus on the development and sale of non-invasive neurostimulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology. The Company received marketing approval from the U.S. Food and Drug Administration (FDA) for its products for several patient numbers, including in 2013 for patients with major depressive disorder (MDD), in 2018 for patients with obsessive-compulsive disorder (OCD), and in 2020 for patients with smoking addiction. BrainsWay is currently conducting clinical trials on Deep TMS in a number of psychiatric, neurological and addiction disorders.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the Private Security Literature Reform Act 1995. These statements may precede the words “expect, ”“ Yes, ”“ yes, ”“ plans, ”“ expectation, ”“ Expectations, ”“ projects, ”“ predictions, ”“ estimates, ”“ goals, ”“ believing, ”“ hopes , ”“ Ability ”or similar words. The proposed offer is subject to market and other conditions, and it is not possible to be certain whether or when the offer will be completed or as to the size or conditions of the offer. These forward-looking statements and their implications are based on the current expectations of the Company’s management and are subject to a number of factors and uncertainties that may lead to real results between completely different from those described in the forward-looking statements. The following factors, among others, may cause real results to differ significantly from those described in the forward-looking statements: the inadequacy of financial resources to meet capital requirements in the future; changes in technology and market requirements; delays or obstacles to the successful launch and / or completion of planned studies and clinical trials; failure to obtain approval from regulatory bodies in accordance with the expected timescale of the Company, or at all; inability to retain or attract key employees with critical expertise for Deep TMS product development; unexpected problems with Deep TMS products and processes, and / or inability to develop the necessary improvements; unforeseen costs associated with Deep TMS products; failure to obtain appropriate protection of the Company’s intellectual property, including intellectual property with the consent of the Company; the potential for product liability; changes in legislation and relevant rules and regulations; unfavorable market opinion and adoption of Deep TMS technology; inadmissibility or delay in repayment from third-party payers, including insurance companies and Medicare; inability to commercialize Deep TMS, including internationally, with the Company or through third-party distributors; product development with competitors; the inability to develop and introduce new technologies, products and applications, and the impact of COVID-19 pandemic health disease on our industry and the ongoing uncertainty and associated market impact.

Any forward-looking statement in this press release shall speak directly from the date of this press release. The Company assumes no responsibility for updating or publicly reviewing a forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by any applicable securities laws. More detailed information on the risks and uncertainties affecting the Company can be found under the heading “Risk Factors” in the Company’s files with the U.S. Securities and Exchange Commission, including Report Company Annual Report on Form 20-F filed with U.S. Securities and Exchange Commission. on March 23, 2020. Investors and securities are requested to read these documents free of charge on the SEC website at

Hadar Tax
SVP and General Manager
[email protected]