- Brenmiller Energy (BNRG, Financial) to execute a 5-for-1 reverse share split on June 18, 2025.
- Post-split trading of BNRG shares will begin on June 20, 2025, maintaining its current ticker.
- The reverse split will decrease outstanding shares from 13,629,259 to 2,725,852.
Brenmiller Energy Ltd. (BNRG), a prominent provider of Thermal Energy Storage solutions, has disclosed plans to implement a 5-for-1 reverse share split. This corporate action will take effect after the market closes on June 18, 2025. Following this implementation, trading on a post-split basis will be initiated on June 20, 2025, while retaining the existing NASDAQ ticker symbol, BNRG.
The shareholders of Brenmiller Energy approved this strategic move on December 5, 2024. The reverse share split is set to reduce the number of outstanding ordinary shares from 13,629,259 to 2,725,852, aligning with the split ratio. It is important to note that the company's authorized share capital will remain constant at 150,000,000 ordinary shares.
Regarding fractional shares resulting from the reverse split, the company's Articles of Association specify that these will be rounded to the nearest whole share. Shareholders possessing fractional consolidated shares exceeding half will receive one consolidated share.
This reverse split aims to maintain compliance with Nasdaq listing standards and could appeal to institutional investors who typically prefer higher-priced stocks. However, it is important to understand that reverse splits do not inherently alter a company's market value and are occasionally interpreted by the market as an indication of potential financial struggles.
