Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 114

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 114
---
 a quarterly basis from July 2026 until the facility is
repaid in full; (v) the Company’s obligations will be secured by substantially all of the Company’s assets and (vi) the Company issued the lenders warrants to purchase shares of the Company’s common stock at an exercise price, adjusted for the 2025 Reverse Stock Split, of $7.586 per share.

On June 2, 2025, the Company received
$2.0 million of advanced financing from a director that is also an existing lender under its Loan Agreement. The Company is currently
arranging the terms of the additional amounts advanced to the Company and expects that such financing will be issued on terms and conditions
that are materially consistent with those of the Loan Agreement.

On
February 10, 2025, we entered into the At-The Market Offering Sales Agreement with BTIG, Inc. (the “2025 ATM”). Under the
2025 ATM, we may sell shares of our common stock having aggregate sales proceeds of up to $35.0 million, from time to time and at various
prices. 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 us 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. If shares of our common stock are sold, there is a 2.5% fee paid
to the sales agent.

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 $2.0 million funding for NeuroNOS is still open as fundraising will continue for a period of time not to extend beyond the end
of calendar year 2025.

The
accompanying condensed consolidated financial statements have been prepared assuming that the Company will