Company: XAIR
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001493152-25-006903
Chunk: 34

Company: Beyond Air, Inc.
Filing Date: 2025-02-14
Form: 424B5
Chunk 34
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| ● | the interested stockholder                                                                                                             
 owned at least 85% of the voting stock of the corporation outstanding upon consummation of the transaction, excluding for purposes     
 of determining the number of shares outstanding (1) shares owned by persons who are directors and also officers and (2) shares owned   
 by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject   
 to the plan will be tendered in a tender or exchange offer; or                                                                         |
| ● | on or subsequent to the                                                                                                                
 consummation of the transaction, the business combination is approved by the board of directors and authorized at an annual or special 
 meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting stock       
 which is not owned by the interested stockholder.                                                                                      |

Section 203 defines a business combination to include:

| ● | any merger or consolidation                                                                                                                
 involving the corporation and the interested stockholder;                                                                                  |
| ● | any sale, transfer, lease,                                                                                                                 
 pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;                          |
| ● | subject to exceptions,                                                                                                                     
 any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; |
| ● | subject to exceptions,                                                                                                                     
 any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or           
 series of the corporation beneficially owned by the interested stockholder; and                                                            |
| ● | the receipt by the interested                                                                                                              
 stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. |

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

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Certificate of Incorporation and Bylaws

Provisions of our certificate of incorporation and bylaws may delay or discourage transactions involving an actual or potential change of control or change in our management, including transactions in which stockholders might otherwise receive a premium for their shares, or transactions that our stockholders might otherwise deem to be in their best interests. Therefore, these provisions could adversely affect the price of our common stock. Among other things, our certificate of