Company: XAIR
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001493152-25-012867
Chunk: 3

Company: Beyond Air, Inc.
Filing Date: 2025-09-09
Form: 424B3
Chunk 3
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 our common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such exercise (“Beneficial Ownership Limitation”), we shall only issue such number of shares of common stock to the Holder on exercise of the Existing Warrants, that would not cause the Holder to exceed the Beneficial Ownership Limitation, with the balance shares to be held in abeyance until notice from the Holder that the balance (or portion thereof) may be issued in compliance with such limitations.

We engaged Laidlaw & Company (UK) Ltd. (“Laidlaw”) as the placement agent in connection with the transactions summarized above and we have agreed to pay Laidlaw a fee equal to 6.5% of the aggregate gross proceeds received from the holder’s exercise of their Existing Warrants. In addition, we have also agreed to reimburse Laidlaw up to $50,000 for its accountable legal expenses in connection with the exercise of the Existing Warrants and the issuance of the New Warrants. The closing of the transactions described above is expected to occur on September 9, 2025 (the “Closing Date”), subject to satisfaction of customary closing conditions. We expect to use the net proceeds from these transactions for general corporate purposes.

The shares of our common stock underlying the Existing Warrants have been registered pursuant to an existing registration statement on Form S-3, as amended (File No.: 333-282834) declared effective by the Securities and Exchange Commission (the “SEC”) on November 26, 2024.

Pursuant to the Inducement Letter, we also agreed to file a registration statement on Form S-3 providing for the resale of the common stock issuable upon the exercise of the New Warrants (the “Resale Registration Statement”), by September 29, 2025, and to use our best efforts to have such Resale Registration Statement declared effective by the SEC as soon as practicable and to keep the Resale Registration Statement effective at all times until no holder of the New Warrants owns any New Warrants or shares of common stock issuable on exercise of the New Warrants.

The forms of the New Warrants and Inducement Letter are filed as Exhibits 4.1 and 10.1, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. The foregoing description of the terms of the New Warrants, and Inducement Letter, is not intended to be complete and is qualified in its entirety by reference to such exhibits