Company: XAIR
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001493152-25-006903
Chunk: 10

Company: Beyond Air, Inc.
Filing Date: 2025-02-14
Form: 424B5
Chunk 10
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 the Company’s listing on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had 180 days, or until February 4, 2025 to regain compliance with the minimum bid price requirement. On February 5, 2025, Nasdaq notified the Company that the Staff determined that the Company is eligible for an additional 180 calendar day period, or until August 4, 2025, to regain compliance. The Staff’s determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

If at any time during this second 180-day compliance period, the closing bid price of the Company’s common stock is at least $1 per share for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the expiration date in order to timely regain compliance. If compliance cannot be demonstrated by August 4, 2025, the Staff will provide written notification that the common stock will be delisted and, effective upon the expiration of the second 180-day compliance period, trading of the Company’s common stock on Nasdaq will be automatically suspended and move to the over-the-counter (OTC) market while any appeal is pending. If the Company appeals the Staff’s determination to a hearings panel, it will be asked to provide a plan to regain compliance to the panel, and that historically panels have generally viewed a near-term reverse stock split as the only definitive plan acceptable to resolve a bid price deficiency.

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Such a delisting or even notification of failure to comply with such requirements would likely have a negative effect on the price of our common stock and would impair your ability to sell or purchase our common stock when you wish to do so. In addition, the delisting of our common stock could lead to a number of other negative implications such as a loss of media and analyst coverage, a determination that our common stock is a “penny stock” which will require brokers trading in our common stock to adhere to more stringent rules and likely result in a reduced level of trading activity in the secondary trading market for our securities, and materially