Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 715

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 715
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per share, and the Common Warrants have an exercise price of $0.3793 per share. The private placement offering closed on September 30,
2024. The Company received total net proceeds of $18.9 million after deductions for placement agent commissions and other offering costs
of $1.4 million and $0.3 million, respectively by March 31, 2025.

The Pre-funded Warrants became exercisable on November
22, 2024 (the “Initial Exercise Date”) and shall expire when exercised in full. The Common Warrants are also exercisable on
or after the Initial Exercise Date and will have a term that expires five years following the Initial Exercise Date. Both the Pre-funded
Warrants and Common Warrants are exercisable on a cashless basis in the event that, at the time of exercise, there is not an effective
registration statement for the resale of the shares underlying the Pre-funded Warrants or Common Warrants, as applicable. The respective
Pre-funded Warrants or Common Warrants may not be exercised to the extent such exercise would cause the holder to beneficially own more
than 4.99% or 9.99% of the Company’s issued and outstanding common stock. The exercise price of the Warrants is subject to appropriate
adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events
and also upon any distributions of assets, including cash, stock or other property to our stockholders. Subject to certain exemptions
outlined in the Common Warrant, if at any time while the Common Warrants are outstanding, the Company issues or sells, or is deemed to
have issued or sold, shares of common stock at an effective price per share less than the exercise price of the Common Warrants then in
effect, the exercise price of the Common Warrant shall be reduced in accordance with a weighted average formula.

On March 20, 2024, the Company, entered into a securities
purchase agreement (the “Securities Purchase Agreement”) with certain institutional and accredited investors, including certain
directors and officers of the Company pursuant to which the Company sold, in a registered direct offering, an aggregate of (i) 9,638,556
shares of common stock and (ii) 9,638,556 common stock purchase warrants to purchase up to 9,638,556 shares of common stock for gross
proceeds of $16 million (which includes $1.