Company: XAIR
Filing Date: 2025-09-09
Form Type: 8-K
Source: 0001493152-25-012866
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Company: Beyond Air, Inc.
Filing Date: 2025-09-09
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On
September 8, 2025, Beyond Air, Inc., (“we,” “our,” or the “ Company”) entered into an inducement offer
letter agreement (the “ Inducement Letter”) with 9 holders (each, a “ Holder”) of our existing common stock
purchase warrants (the “ Existing Warrants”) to purchase up to an aggregate of 1,439,126 shares of common stock. The
Existing Warrants were issued to the Holders on September 30, 2024, pursuant to that certain Securities Purchase Agreement, dated September
26, 2024. Pursuant to the Inducement Letter, such Holders immediately exercised some or all of their respective outstanding Existing
Warrants to purchase up to an aggregate of 1,439,126 shares of common stock, at a reduced exercise price of $2.21. The gross proceeds
to the Company from the exercise of the Existing Warrants were approximately $3.18 million, prior to deducting placement agent fees and
estimated offering expenses.

In
consideration for the immediate exercise of some or all of the Existing Warrants for cash, the Company agreed to issue unregistered new
common stock purchase warrants (“ New Warrants”) to purchase up to 719,561 shares of common stock, for a purchase price of
$0.0625 per share of common stock underlying the Existing Warrants held by such holder. The New Warrants will have an exercise price of $2.21 per share,
will be immediately exercisable and will have a term of five years from the issuance date.

The
Inducement Letter also provided that in the event that any exercise of the Existing Warrants would otherwise cause the Holder to exceed
a beneficial ownership limitation equal to 4.99% / 9.99% of
the number of shares of 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. (“ Laid