Beyond Air, Inc. (XAIR), a medical device and biopharmaceutical firm, announced on Wednesday that it has inked a deal with investors and top executives of the company to purchase 9,638,556 shares and warrants at $1.66 per share and accompanying warrant in a registered direct offering.
The gross proceeds from the offering, to be closed on or about March 22, are expected to be at around $16 million.
Beyond Air plans to use the net proceeds to fund commercial sales development, research, working capital, and other general corporate purposes.
The warrants, with a term of three years, have an exercise price of $2.25 per share which will be exercisable immediately upon issuance. The company can call the warrants if it reports $4.5 million or more of net sales for the quarter ending March 31, 2025 which will require exercise within 10 business days.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.