secwatch.observer — SEC 8-K summary
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Issuer:     Beyond Air, Inc. (XAIR)
CIK:        0001641631
Form:       8-K
Filed at:   2024-09-27T23:59:59+00:00
Accession:  0001493152-24-038433
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beyond Air raises $20.6M via private placement, retires $17.5M debt, extends cash runway to June 2026
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- Sold 40,392,155 shares/pre-funded warrants at $0.51/$0.5099 per unit with warrants exercisable at $0.38 for 5 years.
- Retired $17.5M Avenue Capital term loan with $17.85M payment, eliminating $12M in scheduled debt payments through June 2026.
- Entered $11.5M royalty agreement (15% PIK interest) with insiders, payments based on LungFit PH sales starting July 2026.
- Insiders contributed $2M to the offering; Avenue Capital invested $3.35M in equity.
- Net proceeds used for working capital; Company expects cash runway to last through June 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641631/000149315224038433/0001493152-24-038433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641631/000149315224038433/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-038433

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