Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 812

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1A
Chunk 812
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 before a Nasdaq hearings panel to review the Staff Delisting Determination, which will determine the delisting
of our common stock by Nasdaq. A hearing would then take place within 45 days of the hearing request to determine whether or not our common
stock would be delisted. If, in the future, we receive a Staff Delisting Determination there can be no assurance that we would be successful
in preventing a determination by the Nasdaq hearing panel that our stock will be delisted.

Our amended and restated
certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially
all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for
disputes with us or our directors, officers or employees.

Our certificate of incorporation
provides that the Court of Chancery of the State of Delaware is the exclusive forum for (A) any derivative action or proceeding brought
on behalf of us; (B) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees
to us or our stockholders; (C) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation
Law, our Amended and Restated Certificate of Incorporation or our Bylaws; or (D) any action asserting a claim against us governed by the
internal affairs doctrine. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any
duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will
not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts
have exclusive jurisdiction. In addition, Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts
over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. As a result,
the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Securities Act or any other
claim for which the federal and state courts have concurrent jurisdiction.

The choice of forum provision
may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors,
officers or other employees, which may discourage such lawsuits against us and our directors, officers and other