Company: XAIR
Filing Date: 2025-03-28
Form Type: 8-K
Source: 0001641172-25-001176
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Company: Beyond Air, Inc.
Filing Date: 2025-03-28
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

NeuroNOS
Limited (“ NeuroNos”), a wholly owned subsidiary of Beyond Air, Inc.’s (the “ Company”) wholly owned subsidiary
Beyond Air Ireland Limited (“ Beyond Air Ireland”), previously entered into an agreement to sell ordinary shares pursuant
to a subscription agreement by and among NeuroNos, Beyond Air Ireland and the lead investor signatory thereto (the “ Subscription
Agreement”). The Subscription Agreement provides for an initial closing of at least $2 million and one or more additional closings
for up to an aggregate of $5 million in gross proceeds. Effective March 24, 2025, additional investors signed the Subscription Agreement
with the initial closing of $2 million expected to be on March 31, 2025. Following the initial closing of $2 million, Beyond Air Ireland
shall own approximately 88% of NueroNos, and, if all $5 million ordinary shares are sold, Beyond Air Ireland shall own approximately
75% of NeuroNos. In connection with the Subscription Agreement, the parties thereto entered into a shareholders agreement effective
March 31, 2025 (the “ Shareholders Agreement”) that outlines the rights and obligations of the shareholders of
NeuroNos.

The
foregoing description of the Subscription Agreement and the Shareholders Agreement is not complete and is qualified in its entirety by
reference to the full text of the Subscription Agreement and the Shareholders Agreement, copies of which will be filed as exhibits to
the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025.

Item
8.01 Other Events