Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
June 03 2021 - 9:31AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer Pursuant to Rule
13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of June 2021 Commission File No.:001-35165
BRAINSWAY LTD.
(Translation of registrant’s name into English)
19 Hartum Street
Bynet Building, 3rd Floor
Har HaHotzvim
Jerusalem, 9777518, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the Registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the Registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ___
Completion of Exchange Offer
On May 4, 2021, BrainsWay Ltd. (the “Company”)
commenced a tender offer to exchange eligible options (“Eligible Options”) to purchase Ordinary Shares of the Company,
par value NIS 0.04 per ordinary share, for replacement options to purchase Ordinary Shares (“New Options”), with modified
terms pursuant to the Offer to Exchange Eligible Options for New Options, dated May 4, 2021 (the “Exchange Offer”).
The Exchange Offer expired at 5:00 p.m., Eastern Time, on Wednesday, June 2, 2021.
Pursuant to the Exchange Offer, the Company
accepted for cancellation Eligible Options to purchase an aggregate of 1,371,500 Ordinary Shares, representing approximately
93.06% of the total Ordinary Shares underlying the Eligible Options. On June 2, 2021, following the expiration of the Exchange
Offer, the Company granted New Options to purchase 1,371,500 Ordinary Shares of the Company, pursuant to the terms
of the Exchange Offer and the Company’s 2014 Share Incentive Plan, as amended by our Amended and Restated 2019 Share Incentive
Plan (together, the “Plan”). The exercise price per Ordinary Share of the New Options granted pursuant to the Exchange
Offer is US$4.675 (NIS15.26 based on January 25, 2021 US$/NIS exchange rate of 1/3.265) (being the closing price
per American Depositary Share (“ADS”) of the Company, as reported on Nasdaq on January 25, 2021, the last day
of trading prior to the approval of the Exchange Offer by the Board of Directors (the “Board”) of the Company),
divided by 2 to reflect the exercise price per Ordinary Share (the “Initial Board Approval Date Price”). Each
New Option has the same expiration date, vesting schedule and other terms (other than exercise price) as the Eligible Option exchanged
therefor.
This Form 6-K is incorporated by reference into the
Company's Registration Statement on Form S-8 filed with the Securities and Exchange Commission on April 22, 2019 (Registration
No. 333-230979) and its Registration Statement on Form F-3 filed with the Securities and Exchange Commission on September 4, 2020
(Registration No. 333-248601).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BRAINSWAY LTD.
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(the "Registrant")
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Date: June 3, 2021
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By:
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/s/ Christopher von Jako
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Christopher von Jako
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President and Chief Executive Officer
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