Beyond Air, Inc. - Common Stock (XAIR)

Beyond Air(R) (NASDAQXAIR), a commercial-stage medical device and biopharmaceutical company focused on harnessing the power of endogenous and exogenous nitric oxide (“NO”) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors, has entered into a securities purchase agreement. The agreement is with healthcare-focused institutional investors and accredited investors, including certain directors and officers of the company. According to the agreement, investors have agreed to purchase 9,638,556 shares of the company’s common stock and warrants at a purchase price of $1.66 per share and accompanying warrant, resulting in gross proceeds of approximately $16 million, before standard deductions of fees and expenses. The company anticipates using the funds from the offering for commercial sales development, research, working capital and other general corporate purposes. “The warrants have an exercise price of $2.25 per share, will be exercisable immediately upon issuance and will have a term of three years following the date of issuance,” stated the press release. “The company can call the warrants if it reports equal to or greater than $4.5 million of net sales for the quarter ending March 31, 2025, which will require exercise within 10 business days. The closing of the offering is expected to occur on or about March 22, 2024, subject to the satisfaction of customary closing conditions.”

Beyond Air, Inc. (NASDAQXAIR) is one of today’s top gainers. The company’s shares are currently up 9.28% on the day to $2.42.

Beyond Air, Inc. (NASDAQXAIR) has caught the attention of the investment community today with its bullish price action. The company’s shares are currently up 10.25% on the day to $3.55.

The healthcare industry is looking forward to double-digit growth, and these stocks the insiders are buying have analyst support too.