Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 67

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 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.

On
November 4, 2025, the Company entered into and closed on a note purchase agreement (the “Note Purchase Agreement”) with Streeterville
Capital LLC (“Streeterville” or “Investor”), which provided for the issuance of a secured promissory note in
the principal amount of $12.0 million (the “Note”). The principal amount of the Note is due 24 months following the date
of issuance. Interest will accrue at the rate of 15% per annum, with no interest accruing for the first 12 months following issuance;
provided however, that Streeterville is guaranteed 12 months of interest, of $1.8 million even if the Note is redeemed or prepaid prior
to the maturity date. Of the total $12.0 million Note, $6.0 million will be placed in a restricted account and will be accessible by
the Company as the first $6.0 million is repaid.

Also
on November 4, 2025, the Company entered into an equity purchase agreement (the “Purchase Agreement”) with Streeterville
for the purchase of up to $20.0 million of the Company’s shares of common stock. In connection with the Purchase Agreement, the
Company and Streeterville entered into a registration rights agreement (the “Registration Rights Agreement”), pursuant to
which the Company agreed to file with the Securities and Exchange Commission a registration statement (the “Registration Statement”)
covering the resale of the shares by November 24, 2025. Pursuant to the Purchase Agreement, upon effectiveness of the Registration Statement
and so long as there is no balance outstanding on the Note, the Company shall have the right, but not the obligation, to direct Streeterville,
by its delivery to Streeterville of a put notice from time to time during a period of up to two years, to purchase newly issued shares
of the Company’s common stock, subject to customary limitations.

With
respect to Beyond Cancer, discussions with investors continue in parallel to the advancement to a phase 1b combination study of UNO with
anti-PD1 therapy.

The
recent $2.5 million funding for NeuroNOS is closed at this time.

The
accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue operating
as a going concern. This basis of accounting