InvestmentJul 31, 2026, 08:39 AM
Beyond Air Raises $10.2M Upfront in Private Placement
AI Summary
Beyond Air, Inc. announced a private placement offering expected to generate approximately $10.2 million in gross upfront proceeds. The offering includes common stock, pre-funded warrants, and Series A and B common stock purchase warrants, with the potential to raise up to $30.1 million if all warrants are exercised. The financing saw participation from institutional investors and company directors and executive officers, including CEO Robert Goodman and CFO Daniel Moorhead. The company intends to use the net proceeds for working capital and general corporate purposes, with the closing anticipated around July 31, 2026.
Key Highlights
- Secured $10.2 million in gross upfront proceeds from a private placement.
- Potential to raise up to an additional $20.0 million from warrant exercises, totaling up to $30.1 million.
- Issued 167,011 shares of common stock and pre-funded warrants for 1,638,835 shares.
- Issued Series A and Series B common stock purchase warrants for 1,805,846 shares each.
- Combined purchase price for institutional investors was $5.66 per share (or $5.6599 for pre-funded warrants).
- Combined purchase price for participating directors and executive officers was $5.76 per share.
- Net proceeds will be used for working capital and general corporate purposes.
- Closing expected on or about July 31, 2026.
Price Impact
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