Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 349

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 16
Chunk 349
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 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 were sold together at a combined offering price
of $0.5042 for gross proceeds of $20.6 million (which includes $2.0 million from related parties). Members of the Board of Directors and
certain executives of the Company are considered related parties to this offering. The Pre-Funded Warrants have an exercise price of $0.0001
per share, and the Common Warrants have an exercise price of $0.3793 per share. The private placement offering closed on September 30,
2024. The Company received total net proceeds of $18.9 million after deductions for placement agent commissions and other offering costs
of $1.4 million and $0.3 million, respectively by March 31, 2025.

The Pre-funded Warrants became exercisable on November
22, 2024 (the “Initial Exercise Date”) and shall expire when exercised in full. The Common Warrants are also exercisable on
or after the Initial Exercise Date and will have a term that expires five years following the Initial Exercise Date. Both the Pre-funded
Warrants and Common Warrants are exercisable on a cashless basis in the event that, at the time of exercise, there is not an effective
registration statement for the resale of the shares underlying the Pre-funded Warrants or Common Warrants, as applicable. The respective
Pre-funded Warrants or Common Warrants may not be exercised to the extent such exercise would cause the