Beyond Air prices $5.51 Series A and Series B warrants in $30.1 million private placement
XAIR•Private placement terms and warrant structure
Beyond Air priced a private placement with Series A and Series B common stock purchase warrants covering up to 3,611,692 shares.
The warrants carry a $5.51 exercise price; Series A expires in one year or 45 days after FDA approval of LungFit II. Series B warrants expire five years from issuance. Gross proceeds could reach $30.1 million if all warrants are exercised for cash.
Beyond Air also issued pre-funded warrants for up to 1,638,835 shares, with the combined price set at $5.66 per share equivalent.
The company must file a resale registration statement within 15 days of closing and seeks effectiveness within 75 days if the SEC conducts a full review.
