Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 102

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 102
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 March 31, 2025.
The combined offering price per share and accompanying common stock warrant is $1.66. Subject to certain ownership limitations, each
common stock warrant is immediately exercisable upon issuance at an exercise price of $2.25 per share and expires three years from the
date of issuance. The offering closed on March 22, 2024. The Company received net proceeds of $14.6 million after deductions for placement
agent commissions and other offering costs of $1.1 million and $0.3 million, respectively.

On
March 20, 2024, the Company also entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital
Partners, LLC and Laidlaw & Company (UK) Ltd. (the “Co-Placement Agents”) as the co-placement agents in connection with
the March 20, 2024 offering. Pursuant to the terms of the Placement Agency Agreement, the Co-Placement Agents agreed to use their reasonable
best efforts to arrange for the sale of the securities in the offering. As compensation to the Co-Placement Agents, the Company paid
the Co-Placement Agents a cash fee of 7% of the aggregate gross proceeds raised in the offering and the reimbursement of certain expenses
and legal fees.

On
November 22, 2024, the stockholders of the Company voted to, among other things, approve the Company’s Second Amendment to the
Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock from
100,000,000 to 500,000,000 (the “Certificate of Amendment”). The additional common stock authorized by the Certificate of
Amendment has rights identical to the Company’s currently outstanding common stock. The Company filed the Certificate of Amendment,
which was effective upon filing, with the Secretary of State of the State of Delaware on November 25, 2024.

Stock
Option Plans

The
Company’s Sixth Amended and Restated 2013 Beyond Air Equity Incentive Plan (the “2013 BA Plan”) allows for awards to
officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the Company’s
common stock. On January 10, 2024, the Company’s Board of Directors approved an amendment to the 2013 BA Plan to increase the number
of shares in the 2013 BA Plan by 3,000,000, which was