Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 27

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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474  
     2,745  
     2,751  
     5,495 
  
    Total stock-based compensation
    expense 
    $1,775  
    $3,129  
    $3,352  
    $6,508 

Warrants

On
September 8, 2025, the Company entered into an inducement offer letter agreement (“Inducement Letter”) with certain
holders of the September 2024 equity offering common stock warrants (“Existing Warrants”). Pursuant to the Inducement
Letter, such holders immediately exercised some of all of their respective outstanding Existing Warrants to purchase up to an
aggregate of 1,439,128
shares of common stock at a reduced exercise price of $2.21.
The proceeds to the Company from the exercise of the Existing Warrants were approximately $2.9
million, net of placement agent fees and other offering expenses of $0.2
million and $0.1
million, respectively. In consideration of the inducement offer, the Company issued new common stock warrants to purchase up to 719,562
shares of common stock for a purchase price of $0.125
per share of common stock underlying the new warrant. The new warrants have an exercise price of $2.21
per share and are immediately exercisable, with a term of five years from the issuance date.

A
summary of the Company’s outstanding warrants as of September 30, 2025 is as follows:

SUMMARY
OF COMPANY’S OUTSTANDING WARRANTS 

    Warrant
    Holders 
    Number
                                            of Warrants  
    Exercise Price  
    Intrinsic
                                            Value (in
                                            thousands)  
    Date
                                            of Expiration 

    NitricGen agreement 
     4,000  
    $138.00  
     -  
     January
                                            2028 
  
    Avenue agreement 
     11,693  
    $7.59  
     -  
     June
                                            2028 
  
    March 2024 raise 
     481,936  
    $45.00  
     -  
     March
                                            2027 
  
    Avenue extension agreement 
     5,000  
    $25.60  
     -  
     June
                                            2029