Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 79

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 79
---
 506 
  
    Leasehold improvements 
     533  
     521 
  
    Property and equipment, gross 
     16,456  
     16,513 
  
    Accumulated depreciation 
     (6,268) 
     (5,500)
  
    Property
    and equipment, net 
    $10,188  
    $11,013 

Depreciation
and amortization for the three months ended June 30, 2025 and June 30, 2024 was $0.8 million and $0.7 million, respectively.

NOTE
4 STOCKHOLDERS’ EQUITY

On
February 10, 2025, the Company entered into an At-The-Market Equity Offering Sales Agreement with BTIG, Inc. (the “2025 ATM”).
Under the 2025 ATM, the Company may sell shares of its common stock having aggregate sales proceeds of up to $35.0 million, from time
to time and at various prices. If shares of the Company’s common stock are sold, there is a 2.5% 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 the Company under a Form S-3 registration statement, including
pursuant to the 2025 ATM, in any twelve-month period is limited to an aggregate amount that does not exceed one-third of our public float.
As of June 30, 2025, due to the SEC’s “baby shelf rules,” we are permitted to sell up to $5.8 million of shares of
common stock pursuant to the 2025 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 three months ended June 30, 2025, the Company received net proceeds of $2.4 million from the sale of 564,699 shares of common
stock through the 2025 ATM.

Stock
Option Plans

The
Company’s Seventh Amended and Restated 2013 Beyond Air Equity Incentive Plan (the “2013 BA Plan”) allows for
awards to officers, directors, employees, and consultants of stock options,