Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1179

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1C
Chunk 1179
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2025  
    2024 

    Research and development 
    $471  
    $4,480 
  
    General and administrative 
     8,675  
     16,857 

    Total stock-based compensation expense 
    $9,146 
    $21,337 

Warrants

A summary of the Company’s outstanding warrants
as of March 31, 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 
     80,000  
    $6.90  
     -  
    January 2028
  
    Avenue agreement 
     233,843  
    $0.38  
     -  
    June 2028
  
    March 2024 raise 
     9,638,556  
    $2.25  
     -  
    March 2027
  
    Avenue extension agreement 
     100,000  
    $1.28  
     -  
    June 2029
  
    September 2024 equity offering 
     39,887,081  
    $0.38  
     -  
    September 2029
  
    September 2024 debt instrument 
     15,159,504  
    $0.38  
     -  
    September 2029
  
    Sub-total 
     65,098,984  
    $0.67  
    $-  

    Pre-funded warrants 
     12,127,247  
    $0.0001  
    $3,273  
    September 2029
  
    Total 
     77,226,231  
    $0.56  
    $3,273  

On September 30, 2024, warrants to purchase up to
an aggregate of 40,848,711 of Company common stock were issued to certain institutional and accredited investors, including certain directors
and officers of the Company at an exercise price of $0.3793 per common stock warrant. The warrant exercise price was calculated at the
closing share price for September 26, 2024. 961,630 warrants were exercised in the year ended March