Sichenzia Ross Ference LLP Represents Beyond Air, Inc. in a $11.5 Million Underwritten Public Offering of Common Stock and Concurrent Private Placement
Press Release – New York, NY – December 12, 2019 – Sichenzia Ross Ference LLP announced today that it represented Beyond Air, Inc. (NASDAQ: XAIR), a clinical stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for treatment of severe respiratory conditions, in the successful completion of an underwritten public offering and concurrent private placement of approximately $11.5 million of Beyond Air common stock at a price of $3.66 per share. The public offering was conducted from an effective shelf registration statement filed with the Securities and Exchange Commission. The private placement shares will not be registered.
The underwriters have partially exercised their over-allotment option for an additional 295,199 shares of common stock. SunTrust Robinson Humphrey acted as sole book running manager and National Securities acted as lead manager for the public offering.
Beyond Air intends to use the net proceeds to fund research and development for clinical stage programs related to clinical trials for its lead product LungFit.
Sichenzia Ross Ference LLP also represented Beyond Air in the listing of its common stock on the Nasdaq Capital Market in May 2019. The Sichenzia Ross Ference LLP team was led by Partners Gregory Sichenzia, Avital Perlman and Counsel Jeff Cahlon and associates Jacob Tabman and Grant Levine.