What’s Going On With BrenX (BRNX) Stock After Hours?

BrenX Ltd. (NASDAQ:BRNX) shares fell about 30% to $0.75 in after-hours trading Wednesday after the company filed to sell up to $2.89 million of ordinary shares in an at-the-market offering.

BrenX, formerly Brenmiller Energy Ltd., is an energy technology and infrastructure company focused on integrated energy solutions for industrial and utility customers. Its offerings are powered by proprietary thermal energy storage technology.

Offering Details

According to a prospectus supplement filed with the SEC on Wednesday, the company may sell ordinary shares with an aggregate offering price of up to $2,886,058 from time to time through A.G.P./Alliance Global Partners, an investment banking and brokerage firm.

The filing said sales may be made in at-the-market transactions. A.G.P. is not required to sell any specific number or dollar amount of shares. It will receive a commission of 3.0% of the gross sales price per share sold.

The company said it intends to use the net proceeds for general corporate purposes, working capital, research and development, capital expenditures and commercial project development. It also listed strategic investments and the repayment or refinancing of debt.

The filing said the last reported sale price on Nasdaq on Oct. 13 was $1.32 per share. Assuming sales at that price, the company would sell about 2,186,408 shares. That would equal about 52.9% of its outstanding shares after the sales, the filing said.

Dilution, Listing Disclosures

The filing said outstanding preferred shares and certain warrants carry “full-ratchet” anti-dilution provisions. These can lower the conversion or exercise price if the company issues shares at a lower price.

The filing also said BrenX completed three reverse share splits in 2026: 7-for-1 on Jan. 26, 5-for-1 on April 15 and 6-for-1 on Aug. 13. Because of those splits, the filing said, the company would not be eligible for another compliance period if its closing bid price falls below $1.00 for 30 consecutive business days. Nasdaq staff could then issue a delisting determination.

Trading Metrics

BrenX has a market capitalization of approximately $2.08 million.

Over the past year, BrenX shares have fallen 99.72%.

The stock has traded between a 52-week high of $10.36 and a low of $1.00.

Price Action: In the regular session, BrenX shares fell 18.94% to close at $1.07 on Wednesday.

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