secwatch.observer — SEC 8-K summary
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Issuer:     Beyond Air, Inc. (XAIR)
CIK:        0001641631
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0001493152-23-021898
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641631/000149315223021898/0001493152-23-021898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641631/000149315223021898/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-021898

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer