Company: XAIR
Filing Date: 2025-09-25
Form Type: S-3
Source: 0001493152-25-014967
Chunk: 17

Company: Beyond Air, Inc.
Filing Date: 2025-09-25
Form: S-3
Chunk 17
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 from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

| ● | prior                                                                                                                                 
 to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction 
 which resulted in the stockholder becoming an interested stockholder;                                                                 |

| ● | the                                                                                                                                    
 interested stockholder owned at least 85% of the voting stock of the corporation outstanding upon consummation of the transaction,     
 excluding for purposes of determining the number of shares outstanding (1) shares owned by persons who are directors and also officers 
 and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether  
 shares held subject to the plan will be tendered in a tender or exchange offer; or                                                     |

| ● | on                                                                                                                                          
 or subsequent to the consummation of the transaction, the business combination is approved by the board of directors and authorized         
 at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding 
 voting stock which is not owned by the interested stockholder.                                                                              |

Section 203 defines a business combination to include:

| ● | any                                                                               
 merger or consolidation involving the corporation and the interested stockholder; |

| ● | any                                                                                                                                      
 sale, transfer, lease, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation; |

| ● | subject                                                                                                                           
 to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the 
 interested stockholder;                                                                                                           |

| ● | subject                                                                                                                            
 to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of 
 any class or series of the corporation beneficially owned by the interested stockholder; and                                       |

| ● | the                                                                                                                                   
 receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided 
 by or through the corporation.                                                                                                        |

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting