BWAY News & Events

BrainsWay announced it has entered into a strategic equity financing agreement with BrainStim Health, a provider based in British Columbia servicing a growing number of mental health clinics in Canada. Under the terms of the agreement, BrainsWay will invest $1.0 million initially, with potential for an additional $1.5 million via two milestone-based investments, for a minority position in BrainStim in the form of a preferred, annually compounding security. The agreement also provides for a redemption mechanism relating to the shares. "Our investment in BrainStim is now the fifth minority-stake investment into growth-oriented clinical service platforms announced by the Company. These minority stake investments support our broader strategic initiative to expand access to and awareness of cutting-edge mental health interventions such as Deep TMS, while allowing BrainsWay to continue focusing on the scientific and clinical advancement of its technology, working to expand its range of cleared clinical indications, and delivering best-in-class support to all its customers," said Hadar Levy, BrainsWay's Chief Executive Officer.

BrainsWay (BWAY) commented on the recent news issued by Evernorth Behavioral Health, a division of the Cigna Group (CI), which serves over 18 million covered lives across 12 states, that it will no longer require prior authorization for transcranial magnetic stimulation, TMS, for contracted providers whose patients have coverage under Evernorth and Cigna Healthcare plans. The Evernorth press release stated that the change will be effective on March 6, 2026. "Evernorth's decision to eliminate the requirement for contracted providers to have patients obtain prior authorizations for TMS treatment marks an important step forward in expanding patient access to this effective and well-accepted therapy. This change empowers providers to deliver timely care to patients who meet Evernorth's TMS policy selection criteria," stated Hadar Levy, CEO at BrainsWay.

BrainsWay's Board of Directors approved a plan to change to the ratio of its American Depositary Shareslisted on the Nasdaq Capital Market relative to its ordinary shares traded on the Tel Aviv Stock Exchange. The Company's Board of Directors believes that aligning the ADS ratio with the ordinary share will simplify the Company's capital structure and provide investors with a clearer basis for assessing the Company's valuation. The Company will adjust its current 2-to-1 ordinary share-to-ADS ratio to a new 1-to-1 structure, effective March 3, 2026. As a result of this change, each existing ADS holder will receive one additional ADS for each ADS held. This ratio change will have the same effect as a 2-for-1 forward split of the ADSs. The Company's ADSs will continue to trade on the NASDAQ under the symbol "BWAY," and its ordinary shares, which will not be affected by the ratio change, will continue to trade on the Tel Aviv Stock Exchange. The new 1-to-1 ADS to ordinary share ratio will take effect prior to the commencement of trading on the NASDAQ on Tuesday, March 3, 2026. Because the ratio change will result in each ADS representing half the number of ordinary shares currently represented by each ADS, the trading price of the ADSs is expected to be divided in half after the ratio change.