Company: XAIR
Filing Date: 2025-07-10
Form Type: 8-K
Source: 0001641172-25-018520
Chunk: 1

Company: Beyond Air, Inc.
Filing Date: 2025-07-10
Form: 8-K
Item: Item 5.03
Chunk 1
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Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Beyond
Air, Inc., a Delaware corporation (the “ Company”), approved a reverse stock split of the Company’s issued and outstanding
shares of common stock (“ Common Stock”), at a ratio of 1-for-20 (the “ Reverse Stock Split”). The Reverse Stock
Split was duly approved in a special meeting of the stockholders held on June 20, 2025. On July 9, 2025, the Company filed with the Secretary
of State of the State of Delaware the Third Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “ Certificate
of Amendment”) to effect the Reverse Stock Split. The Reverse Stock Split will become effective as of 12:01 a. m., Eastern Time,
on July 14, 2025, and the Company’s Common Stock will begin trading on the Nasdaq Stock Market on a split-adjusted basis when the
market opens on July 14, 2025.

Reasons
for the Reverse Stock Split

The
Company is implementing the Reverse Stock Split to raise the per share bid price of the Company’s Common Stock above $1.00 per
share and bring the Company back into compliance with Nasdaq Listing Rule 5550(a)(2). The Company will have regained compliance once
the Company’s Common Stock trades at or above $1.00 for a minimum of 10 consecutive trading days, at which time Nasdaq will provide
the Company with notice that it has regained compliance. The Company cannot provide assurance that the Reverse Stock Split will achieve
the desired effects or that, if achieved, such desired effects will be sustained.

Effects
of the Reverse Stock Split

Effective
Date; Symbol; CUSIP Number

The
Reverse Stock Split will become effective on July 14, 2025 (the “ Effective Date”). The Common Stock will begin trading on
a split-adjusted basis at the commencement of trading on the Effective Date, under the Company’s existing trading symbol “ XAIR.”
The new CUSIP number for the Common Stock following the Reverse Stock Split will be 08862L202.

Split
Adjustment; Treatment of Fractional Shares

On
the Effective Date, the total number of shares of Common Stock held by each stockholder of the Company will be exchanged for the number
of shares of Common Stock equal to the number of issued and outstanding shares of Common Stock held by each such stockholder