SCHEDULE: Alpha Capital Boosts Brenmiller Energy Stake to 24.99%, Expresses Confidence in Company Trajectory

Alpha Capital Anstalt has increased its beneficial ownership in Brenmiller Energy Ltd. to 24.99% and expressed satisfaction with the company's current trajectory, following a new $1.2 million investment in warrants.

Summary

• Alpha Capital Anstalt, the reporting person, now beneficially owns 800,522 Ordinary Shares of Brenmiller Energy Ltd., representing 24.99% of the outstanding shares.
• This percentage is based on 3,203,371 Ordinary Shares issued and outstanding as of July 24, 2025, post-reverse split.
• On July 25, 2025, Alpha Capital entered a Securities Purchase Agreement for an aggregate investment of $1,200,000.
• This investment includes the purchase of 631,579 Pre-Funded Warrants (exercisable at $0.00001 per warrant) and 631,579 Warrants (exercisable at $2.09 per warrant).
• The transaction documents allow for additional investments by Alpha Capital over the next two years, contingent on various conditions.
• Alpha Capital also holds Warrants to purchase an additional 32,251 Ordinary Shares and the 631,579 Warrants mentioned, all subject to a 9.99% ownership restriction.

Sentiment

Score: 8

Explanation: The filing indicates strong investor confidence with an increased stake and a new significant investment. The reporting person explicitly states satisfaction with the company's trajectory and has provisions for future investments, signaling a very positive outlook from a major shareholder.

Positives

• Alpha Capital Anstalt has increased its beneficial ownership in Brenmiller Energy Ltd. to 24.99%, indicating strong investor confidence.
• The reporting person expressed satisfaction with Brenmiller Energy's current trajectory after discussions with management.
• A new investment of $1,200,000 was made through the purchase of Pre-Funded Warrants and Warrants.
• The transaction documents include provisions for potential additional investments by Alpha Capital over the next two years.

Risks

• Future actions by the Reporting Person (acquiring or selling securities) are dependent on various factors, including the Issuer's management, business, financial condition, operations, prospects, and general market conditions.
• Additional investments over the next two years are subject to various conditions and contingencies, which may not be met.
• Warrants held by the Reporting Person contain a contractually stipulated 9.99% ownership restriction, limiting immediate full exercise into shares.

Future Outlook

The transaction documents provide for additional investments by Alpha Capital Anstalt in Brenmiller Energy Ltd. over the next two years, subject to various conditions and contingencies. Alpha Capital intends to continuously review its investment based on the Issuer's management, business, financial condition, operations, prospects, and market conditions, reserving the right to acquire or sell securities.

Management Comments

• Following discussions and agreements reached with management and the Company, the Reporting Person is satisfied with the Company's current trajectory.

Industry Context

This filing indicates continued investor confidence in Brenmiller Energy, a company likely operating in the energy storage sector, specifically thermal energy storage. The additional investment and expressed satisfaction from a significant shareholder suggest a positive outlook from a major investor, which could be a positive signal for the broader energy storage market, particularly for companies developing innovative solutions.

Stakeholder Impact

• Shareholders: Increased confidence from a major investor (Alpha Capital Anstalt) could positively influence other shareholders and market perception. The new investment provides capital to the company.
• Company (Brenmiller Energy Ltd.): Receives a capital injection of $1.2 million and potential for future investments, supporting its operations and strategic trajectory. The expressed satisfaction from a significant investor validates its current direction.

Next Steps

• Alpha Capital Anstalt will continue to review its investment in Brenmiller Energy Ltd. on an ongoing basis.
• Alpha Capital Anstalt may acquire additional securities or retain/sell existing holdings based on various factors.
• Potential for additional investments by Alpha Capital Anstalt in Brenmiller Energy Ltd. over the next two years, subject to conditions.

Key Dates

Recommendation

The filing reveals a significant increase in a major investor's stake, coupled with a new $1.2 million investment and an explicit statement of satisfaction with the company's trajectory. The provision for additional future investments further underscores strong confidence. This signals a robust endorsement from a sophisticated investor, suggesting positive future prospects and potentially undervalued shares.

Keywords

Brenmiller Energy, Alpha Capital Anstalt, Schedule 13D, Beneficial Ownership, Warrants, Pre-Funded Warrants, Investment, Shareholding, Energy Storage, Thermal Energy Storage, SEC Filing