Company: XAIR
Filing Date: 2025-11-05
Form Type: 8-K
Source: 0001493152-25-020888
Chunk: 1

Company: Beyond Air, Inc.
Filing Date: 2025-11-05
Form: 8-K
Item: Item 1.01
Chunk 1
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subject to a floor of $0.39 per share. The aggregate purchase price for these shares shall be offset by an equal amount outstanding under
the Note. In no event shall the Company effect any issuances under the Purchase Agreement in violation of Nasdaq’s 19.99% limitation
unless the Company’s stockholders have approved the issuance of common shares in excess of the 19.99% limitation in accordance
Nasdaq Rule 5635(d) or the applicable Purchase Price equals or exceeds the Nasdaq Minimum Price on the effective date of the Purchase
Agreement.

The
foregoing descriptions of the terms and conditions of the Purchase Agreement and the Registration Rights Agreement do not purport to
be complete and are qualified in their entirety by the full text of the agreements, which are filed as Exhibit 10.1 and 10.2 to this
Current Report on Form 8-K and are incorporated herein by reference.

Amended
and Restated Loan and Security Agreement; Waiver

As
previously disclosed, on November 1, 2024, the Company entered into a loan and security agreement (the “ Original Loan and Security
Agreement”) with certain lenders including its Chief Executive Officer Steven Lisi and director Robert Carey (collectively, the
“ Lender”), that provided for a $11,500,000 loan and the issuance of warrants to purchase up to an aggregate of 757,975
shares of common stock to Mr. Lisi and Mr. Carey (the “2024 Warrants”). On November 3, 2025, the Company and the Lender amended
and restated the Original Loan and Security Agreement (as amended, the “ Amended and Restated Loan and Security Agreement”)
to provide for an additional $2,000,000 term loan to the Company and the issuance of new five-year warrants to Mr. Carey to purchase
up to 512,821 shares of common stock at an exercise price of $1.95 per share (the “ Supplemental Warrants”).

Concurrently, the parties entered into a Waiver Agreement (the “ Waiver”), pursuant to which the Lender consented to the Company’s issuance of the Note in exchange for reducing
the exercise price of the 2024 Warrants to $1.95 per share.

The
foregoing descriptions of the Amended and Restated Loan and Security Agreement, Supplemental Warrants and the Waiver do not purport to
be complete and are qualified in their