Company: XAIR
Filing Date: 2025-05-05
Form Type: DEF 14A
Source: 0001641172-25-008699
Chunk: 4

Company: Beyond Air, Inc.
Filing Date: 2025-05-05
Form: DEF 14A
Chunk 4
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, at the discretion of our Board, effect a reverse stock split of our issued and 
 outstanding shares of common stock, par value $0.0001 per share (the “Common Stock”),       
 at a specific ratio, ranging from one-for-ten (1:10) to one-for-fifty (1:50), at any time   
 prior to the one-year anniversary date of the Special Meeting, with the exact ratio to be   
 determined by our Board without further approval or authorization of our stockholders (the  
 “Reverse Stock Split Proposal” or “Proposal 1”); and                                        |

| ● | To                                                                                         
 approve a proposal to adjourn the Special Meeting to a later date or dates, if necessary   
 or appropriate, to permit further solicitation and vote of proxies in the event that there 
 are insufficient votes for, or otherwise in connection with, the approval of the Reverse   
 Stock Split Proposal (the “Adjournment Proposal” or “Proposal 2”).                         |

Other than these proposals, no other proposals will be presented for a vote at the Special Meeting.

Because this Special Meeting is occurring very soon after this mailing, your immediate attention and voting is respectfully requested.

Why are we proposing that stockholders approve a reverse stock split?

Our Board has unanimously adopted a resolution declaring advisable, and recommending to our stockholders for their approval, a third amendment to our amended and restated certificate of incorporation (the “Reverse Stock Split Amendment”) (i) authorizing a reverse stock split of the issued and outstanding shares of our Common Stock at a ratio in the range of 1-for-10 to 1-for-50, with such ratio to be determined by the Board (the “Reverse Stock Split”) if they determine that effecting the Reverse Stock Split is in the best interest of our stockholders, and (ii) granting the Board the discretion to file the third certificate of amendment to our amended and restated certificate of incorporation with the Secretary of State of the State of Delaware effecting the Reverse Stock Split at any time prior to the one-year anniversary date of the Special Meeting, or to abandon the Reverse Stock Split altogether.

The Board does not intend to effect the Reverse Stock Split if our stock regains compliance with Nasdaq’s bid price requirement discussed below.

On August 8, 2024, we received a letter from the staff of the Listing Qualifications Department of the Nasdaq Stock Market (the “Staff”) indicating that, based upon the closing bid price of our Common Stock for the 30 consecutive business day