---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-021898"
form_type: "8-K"
ticker: "XAIR"
cik: "0001641631"
company_name: "Beyond Air, Inc."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T21:21:51.693721+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Beyond Air secures up to $40M debt financing; $17.5M funded at close

## Summary
- $17.5M advanced on June 15, 2023; up to $22.5M more available upon meeting milestones.
- Interest rate: greater of WSJ Prime + 3.75% or 12.00%; maturity June 1, 2027.
- Lenders granted warrants for 233,843 shares at $5.88 strike, expiring June 15, 2028.
- Avenue has conversion right for up to $3M principal into stock at 130% of warrant exercise price.
- Proceeds to support LungFit PH commercialization and clinical pipeline development.

## SEC filing metadata
- accession: 0001493152-23-021898
- form_type: 8-K
- ticker: XAIR
- cik: 0001641631
- company_name: Beyond Air, Inc.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641631/000149315223021898/0001493152-23-021898-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641631/000149315223021898/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-021898
- JSON: https://secwatch.observer/filing/0001493152-23-021898.json
- Plain text: https://secwatch.observer/filing/0001493152-23-021898.txt

## Key facts
- Material Agreements
  Beyond Air, Inc. entered into Loan and Security Agreement with Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund, L.P., and Avenue Venture Opportunities Fund II, L.P. valued at up to $40 million (effective 2023-06-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund, L.P., and Avenue Venture Opportunities Fund II, L.P.
  - Value: up to $40 million
  - Effective: 2023-06-15
  source text: On June 15, 2023 (the “ Closing Date ”), Beyond Air, Inc. (the “ Company ”) and its wholly owned subsidiary, Beyond Air Ltd., entered into a Loan and Security Agreement (the “ Agreement ”) with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “ Agent ”), Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership (“ Avenue ”), and Avenue Venture Opportunities Fund II, L.P, a Delaware limited partnership (“ Avenue 2 ” and, together with Avenue, the “ Lenders ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641631/000149315223021898/0001493152-23-021898-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.