Beyond Air enters $11.5M secured loan with CEO and director; 15% PIK interest, 8% royalty

Beyond Air, Inc.

Term sheet for $11.5M secured loan from CEO Steven Lisi and director Robert Carey; 10-year term, 15% PIK interest through July 2026.
Royalty of 8% on net sales quarterly from July 2026 until repaid; secured by substantially all assets.
Warrants to purchase common stock at $0.3793 per share; definitive loan agreement expected by Oct 31, 2024.
Approved by independent disinterested directors after investment bank recommendation; interested parties involved.

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