Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 101

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 101
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 million, respectively by December 31, 2024
and received a further $0.4 million on October 1, 2024.

The
Pre-funded Warrants became exercisable on November 22, 2024 (the “Initial Exercise Date”) and shall expire when exercised
in full. The Common Warrants are also exercisable on or after the Initial Exercise Date and will have a term that expires five years
following the Initial Exercise Date. Both the Pre-funded Warrants and Common Warrants are exercisable on a cashless basis in the event
that, at the time of exercise, there is not an effective registration statement for the resale of the shares underlying the Pre-funded
Warrants or Common Warrants, as applicable. The respective Pre-funded Warrants or Common Warrants may not be exercised to the extent
such exercise would cause the holder to beneficially own more than 4.99% or 9.99% of the Company’s issued and outstanding common
stock. The exercise price of the Warrants is subject to appropriate adjustment in the event of certain stock dividends and distributions,
stock splits, stock combinations, reclassifications or similar events and also upon any distributions of assets, including cash, stock
or other property to our stockholders. Subject to certain exemptions outlined in the Common Warrant, if at any time while the Common
Warrants are outstanding, the Company issues or sells, or is deemed to have issued or sold, shares of common stock at an effective price
per share less than the exercise price of the Common Warrants then in effect, the exercise price of the Common Warrant shall be reduced
in accordance with a weighted average formula.

On
March 20, 2024, the Company, entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain
institutional and accredited investors, including certain directors and officers of the Company pursuant to which the Company sold, in
a registered direct offering, an aggregate of (i) 9,638,556 shares of common stock and (ii) 9,638,556 common stock purchase warrants
to purchase up to 9,638,556 shares of common stock for gross proceeds of $16 million (which includes $1.2 million from related parties).
Members of the Board of Directors and certain executives of the Company are considered related parties to this offering. These warrants
contain a call provision which can be exercised if the Company reports $4.5 million of net sales in the quarter ending