08:30 AM EDT, 09/30/2024 (MT Newswires) -- Brainsway ( BWAY ) shares jumped over 17% in recent Monday premarket activity after the company said it has entered into a $20 million securities purchase agreement with Valor Equity Partners affiliate in a private investment financing deal.

As part of the deal, BrainsWay ( BWAY ) will issue 2.1 million American depositary shares at $9.51 per ADS and warrants for up to 1.5 million ADSs, potentially raising $34.3 million if the warrants are fully exercised. Additionally, BrainsWay ( BWAY ) will grant Valor the right to nominate one board member if it holds at least 10% of voting rights, and two members if it holds 20% of the company's share capital.

BrainsWay ( BWAY ) said it plans to use the proceeds for strategic initiatives including expanding market awareness, enhancing data analysis capabilities, developing its research and development roadmap, and to assess other potential opportunities in transportation management system industry.

Price: 9.48, Change: +1.41, Percent Change: +17.47