On
September 26, 2025 the Company entered into an At-The-Market Offering Agreement (the “Sales Agreement”) with a sales agent.
In accordance with the terms of the Sales Agreement, the Company may offer and sell up to $13,170 of
its newly issued ordinary shares from time to time through the sales agent, under an At-the-Market (“ATM”) facility (see
Note 9(c) to the Company’s financial statements for the year ended December 31, 2025).
The
sales agent will not sell ordinary shares unless instructed by the Company and will use commercially reasonable efforts to sell on the
Company’s behalf all of the ordinary shares requested to be sold by the Company under the ATM facility, subject to the terms of
the Sales Agreement.
The
sales agent will be entitled to cash compensation equal to 3.0%
of the gross sales price of ordinary shares sold under the Sales Agreement.
During
the six-month period ended on June 30, 2026, the Company issued and sold 450,079
ordinary shares for $1,940,
net of issuance costs (including utilization of prepaid transaction expenses of $60
and placement agent fee) under the Sales Agreement for the Company’s ATM facility. For further details regarding additional
amounts raised following the reporting period, see Note 13(b) below.