Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 28

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 measurement
periods, the number of shares of common stock that may be offered and sold by the Company under a Form S-3 registration statement, including
pursuant to the 2025 ATM, in any twelve-month period is limited to an aggregate amount that does not exceed one-third of our public float.
As of June 30, 2025, due to the SEC’s “baby shelf rules,” we are permitted to sell up to $5.8 million of shares of
common stock pursuant to the 2025 ATM. We will remain subject to the “baby shelf rules” under the Form S-3 registration statement
until such time as our public float exceeds $75.0 million.

During
the three months ended June 30, 2025, the Company received net proceeds of $2.4 million from the sale of 564,699 shares of common
stock through the 2025 ATM.

Stock
Option Plans

The
Company’s Seventh Amended and Restated 2013 Beyond Air Equity Incentive Plan (the “2013 BA Plan”) allows for
awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the
Company’s common stock. On October 11, 2024, the Company’s Board of Directors (the “Board”) approved an
amendment to the 2013 BA Plan to increase the number of shares in the 2013 BA Plan by 150,000 and to provide the Board the requested authority to (i) modify
the exercise or grant price of an option or stock appreciation right after it is granted, (ii) cancel an option or stock appreciation
right at a time when its exercise or grant price exceeds the fair market value of the underlying stock, in exchange for cash, another
option or stock appreciation right, restricted stock, or other equity award, or (iii) take any other action that is treated as a repricing
under generally accepted accounting principles. This amendment was approved by the Company’s stockholders at the 2025 annual stockholder meeting on November 22, 2024. The 2013 BA Plan has 830,000
shares authorized for issuance. As of June 30, 2025, 46,372
shares were available under the 2013 BA Plan.

    15

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL