Beyond Air Announces $5.0 Million Private Placement Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Beyond Air, Inc. has entered into a securities purchase agreement to raise approximately $5.0 million through a private placement of common stock and warrants, aimed at enhancing its working capital and general corporate purposes [1][2]. Group 1: Securities Offering - The company will issue 3,930,818 shares of common stock and warrants to purchase an equal number of shares at a combined purchase price of $1.272 per share, with expected gross proceeds of around $5.0 million before expenses [1]. - The warrants will have an exercise price of $1.147 per share and will be exercisable immediately upon issuance for a term of five years [1]. - Rodman & Renshaw LLC is the exclusive placement agent for this private placement, with Roth Capital Partners and D. Boral Capital serving as financial advisors [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [2]. Group 3: Company Overview - Beyond Air is a commercial-stage medical device and biopharmaceutical company focused on using nitric oxide to treat respiratory illnesses, neurological disorders, and solid tumors [5]. - The company has received FDA approval and CE Mark for its LungFit PH system, which treats neonates with hypoxic respiratory failure, and is advancing other LungFit systems in clinical trials for severe lung infections [5]. - An affiliate, Beyond Cancer, Ltd., is exploring ultra-high concentrations of nitric oxide for targeting solid tumors in pre-clinical settings [6].