Beyond Air Prices Direct Offering Of $16 Mln Of Shares, Warrants

(RTTNews) - Beyond Air, Inc. (XAIR), a medical device and biopharmaceutical firm, announced on Wednesday that it has inked a deal with investors and top executives of the company to purchase 9,638,556 shares and warrants at $1.66 per share and accompanying warrant in a registered direct offering.

The gross proceeds from the offering, to be closed on or about March 22, are expected to be at around $16 million.

Beyond Air plans to use the net proceeds to fund commercial sales development, research, working capital, and other general corporate purposes.

The warrants, with a term of three years, have an exercise price of $2.25 per share which will be exercisable immediately upon issuance. The company can call the warrants if it reports $4.5 million or more of net sales for the quarter ending March 31, 2025 which will require exercise within 10 business days.