Beyond Air has entered into a securities purchase agreement with certain institutional and accredited investors, as well as Company insiders. Under the terms of the securities purchase agreement, the investors have agreed to purchase in a private placement offering 40,392,155 shares of the Company’s common stoc and accompanying warrants to purchase up to 40,392,156 shares of common stock, at a purchase price of $0.51 per common share and accompanying warrant in a private placement priced at-the-market under the rules of the Nasdaq Stock Market. The pre-funded warrants and the warrants will be exercisable upon shareholder approval. The pre-funded warrants will be exercisable at a price of $0.0001 per share until exercised in full. The warrants will have an exercise price of $0.38 per share and a term of five years commencing upon shareholder approval. The gross proceeds to the Company from this offering are expected to be approximately $20.6 million before deducting the placement agent fees and other offering expenses payable by the Company. Insiders have contributed $2 million to the offering. The Company intends to use the net proceeds from this offering for working capital purposes. The private placement offering is expected to close on or about September 30, 2024, subject to the satisfaction of certain closing conditions. BTIG acted as the lead placement agent, and each of Laidlaw & Company, JonesTrading Institutional Services Land Brookline Capital Markets, a division of Arcadia Securities acted as co-placement agents for the offering.

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