Company: XAIR
Filing Date: 2025-02-05
Form Type: 8-K
Source: 0001493152-25-005038
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Company: Beyond Air, Inc.
Filing Date: 2025-02-05
Form: 8-K
Item: Item 3.01
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Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As
previously disclosed, on August 8, 2024, Beyond Air, Inc. (the “ Company”) received a letter from the Listing Qualifications
Department of the Nasdaq Stock Market (“ Nasdaq”) indicating that, based upon the closing bid price of the Company’s
common stock for the 30 consecutive business day period between June 25, 2024, through August 7, 2024, the Company did not meet the minimum
bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2).
The letter also indicated that the Company would be provided with a compliance period of 180 calendar days, or until February 4, 2025,
in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).

On
February 5, 2025, Nasdaq notified the Company that its staff (the “ Staff”) determined that the Company is eligible for an
additional 180 calendar day period, or until August 4, 2025, to regain compliance. The Staff’s determination was based on the Company
meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial
listing on the Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention
to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

If
at any time during this second 180-day compliance period, the closing bid price of the Company’s common stock is at least $1 per
share for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance. If the Company chooses
to implement a reverse stock split, it must complete the split no later than ten business days prior to the expiration date in order
to timely regain compliance. If compliance cannot be demonstrated by August 4, 2025, the Staff will provide written notification that
the common stock will be delisted. At that time, the Company may appeal Staff’s determination to a Hearings Panel.

The
letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on the
Nasdaq Capital Market, subject to the Company’s compliance with the other listing requirements of the