Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1792

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 6
Chunk 1792
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 its common stock
for aggregate sales proceeds of up to $50 million from time to time and at various prices, subject to the conditions and limitations set
forth in the 2022 ATM. If shares of the Company’s common stock are sold, there is a 3% fee paid to the sales agent. Pursuant to
the “baby shelf rules” promulgated by the SEC, if our public float is less than $75.0 million as of specified measurement
periods, the number of shares of common stock that may be offered and sold by us under a Form S-3 registration statement, including pursuant
to the 2022 ATM, in any twelve-month period is limited to an aggregate amount that does not exceed one-third of our public float. As of
March 31, 2025, due to the SEC’s “baby shelf rules,” we were permitted to sell up to $6.6 million of shares of common
stock pursuant to the 2022 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 year ended March 31, 2025, the Company
received net proceeds of $2.1 million from the sale of 6,742,011 shares of common stock through the 2022 ATM. During the year ended March
31, 2024, the Company received net proceeds of $13.4 million from the sale of 5,131,780 shares of common stock.

On September 26, 2024, the Company entered into the
Securities Purchase Agreement II with certain institutional and accredited investors, which included certain directors and officers of
the Company, pursuant to which the Company sold, in a private placement offering, an aggregate of (i) 24,999,999 shares of common stock
(ii) 15,848,712 pre-funded stock purchase warrants, (the “Pre-funded Warrants”) to purchase up to 15,848,712 shares of common
stock and (iii) 40,848,711 stock purchase warrants (the “Common Warrants” and together with the Pre-funded Warrants, the “Warrants”)
to purchase up to 40,848,711 shares of common stock. Each common share and accompanying Common Warrant were sold together at a combined
offering price of $0.5043, and each Pre-Funded Warrant and accompanying Common Warrant