secwatch.observer — SEC 8-K summary
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Issuer:     Beyond Air, Inc. (XAIR)
CIK:        0001641631
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001493152-24-043852
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beyond Air secures $11.5M secured loan from CEO and director; issues warrants
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- $11.5M loan at 15% interest (3% cash, 12% PIK through June 2026); matures Oct 2034.
- Warrants for 15,159,504 shares at $0.3793/share issued to CEO Steven Lisi and director Robert Carey.
- Loan secured by substantially all assets; quarterly repayment from 8% royalty on net sales starts Oct 2026.
- Independent board and investment bank approved the related-party transaction.
- Proceeds used for working capital and refinancing; loan is full recourse upon maturity or default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641631/000149315224043852/0001493152-24-043852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641631/000149315224043852/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-043852

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