Company: XAIR
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0001493152-25-006902
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Company: Beyond Air, Inc.
Filing Date: 2025-02-14
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On
February 14, 2025, Beyond Air, Inc. (the “ Company”) entered into an At-The-Market Equity Offering Sales Agreement (the “ Agreement”)
with BTIG, LLC (the “ Agent”) under which the Company may offer and sell, from time to time at its sole discretion, shares
of its common stock, par value $0.0001 per share (the “ Common Stock”), having an aggregate offering price of up to $35,000,000
through the Agent as its sales agent. The issuance and sale, if any, of Common Stock by the Company under the Agreement will be pursuant
to the Company’s Registration Statement on Form S-3 (File No. 333-284653) filed with the Securities and Exchange Commission (the
“ SEC”) on January 31, 2025 (the “ Registration Statement”) and declared effective by the SEC on February 10, 2025,
the prospectus supplement relating to the Offering filed with the SEC on February 14, 2025 (the “ February 2025 Prospectus Supplement”),
and any applicable additional prospectus supplements related to the offering that form a part of the Registration Statement. Due to the
offering limitations applicable to the Company under General Instruction I. B.6. of Form S-3 and the Company’s public float calculated
in accordance therewith as of February 14, 2025, and in accordance with the terms of the Agreement, the February 2025 Prospectus Supplement
registers the sale of shares of Common Stock having an aggregate gross sales price of up to $9,892,518. If the Company’s public
float increases such that it may sell additional amounts under the Agreement and the Registration Statement, the Company will file another
prospectus supplement prior to making additional sales.

Subject
to the terms and conditions of the Agreement, the Agent may sell the Common Stock by any method permitted by law deemed to be an “at
the market offering” as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended. The Agent will use commercially reasonable
efforts to sell the Common Stock from time to time, based upon instructions from the Company (including any price, time or size limits
or other customary parameters or conditions the Company may impose). The Company will pay the Agent a commission equal to up to three
percent (3%) of the