{"url_path":"/sec/xair/8-k/2026-07-09/item-5-03","section_key":"item-5-03","section_title":"Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-09","source_url":"https://www.sec.gov/Archives/edgar/data/1641631/0001493152-26-032621-index.html","accession_number":"0001493152-26-032621","cik":"0001641631","ticker":"XAIR","issuer_name":"Beyond Air, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1641631/0001493152-26-032621-index.html","primary_entity_key":"0001641631","primary_entity_name":"Beyond Air, Inc."},"word_count":783,"has_tables":true,"body_markdown":"**Item\n5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**\n\n \n\nBeyond\nAir, Inc., a Delaware corporation (the “Company”), approved a reverse stock split of the Company’s issued and outstanding\nshares of common stock (“Common Stock”), at a ratio of 1-for-20 (the “Reverse Stock Split”). The Reverse Stock\nSplit was duly approved in a special meeting of the stockholders held on June 18, 2026. On July 9, 2026, the Company filed with\nthe Secretary of State of the State of Delaware the Fourth Certificate of Amendment to its Amended and Restated Certificate of Incorporation\n(the “Certificate of Amendment”) to effect the Reverse Stock Split. The Reverse Stock Split will become effective as of 12:01\na.m., Eastern Time, on July 13, 2026, and the Company’s Common Stock will begin trading on the Nasdaq Stock Market on a split-adjusted\nbasis when the market opens on July 13, 2026.\n\n \n\n**Reasons\nfor the Reverse Stock Split**\n\n \n\nThe\nCompany is implementing the Reverse Stock Split to raise the per share bid price of the Company’s Common Stock above $1.00 per\nshare and bring the Company back into compliance with Nasdaq Listing Rule 5550(a)(2). The Company will have regained compliance once\nthe Company’s Common Stock trades at or above $1.00 for a minimum of 10 consecutive trading days, at which time Nasdaq will provide\nthe Company with notice that it has regained compliance. The Company cannot provide assurance that the Reverse Stock Split will achieve\nthe desired effects or that, if achieved, such desired effects will be sustained.\n\n \n\n**Effects\nof the Reverse Stock Split**\n\n \n\n*Effective\nDate; Symbol; CUSIP Number*\n\n \n\nThe\nReverse Stock Split will become effective on July 13, 2026 (the “Effective Date”). The Common Stock will begin trading on\na split-adjusted basis at the commencement of trading on the Effective Date, under the Company’s existing trading symbol “XAIR.”\nThe new CUSIP number for the Common Stock following the Reverse Stock Split will be 08862L301.\n\n \n\n*Split\nAdjustment; Treatment of Fractional Shares*\n\n \n\nOn\nthe Effective Date, the total number of shares of Common Stock held by each stockholder of the Company will be exchanged for the number\nof shares of Common Stock equal to the number of issued and outstanding shares of Common Stock held by each such stockholder immediately\nprior to the Reverse Stock Split, divided by twenty (20), with such resulting number of shares rounded up to the nearest whole share.\nAs a result, no fractional shares will be issued in connection with the Reverse Stock Split and no cash or other consideration shall\nbe paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split. The Company does not\nintend to round up fractional shares at the beneficial level and will instead round any such fractional shares up at the participant\nlevel. Also on the Effective Date, all equity awards outstanding immediately prior to the Reverse Stock Split will be adjusted to reflect\nthe Reverse Stock Split.\n\n \n\n*Certificated\nand Non-Certificated Shares*\n\n \n\nEach\ncertificate, or book entry, that immediately prior to the Reverse Stock Split represented shares of Common Stock, will, following the\nReverse Stock Split, represent that number of shares of Common Stock into which the shares of Common Stock represented by such certificate\nor book entry have been combined, subject to the treatment of fractional shares as described above.\n\n \n\nStockholders\nwho hold their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Reverse Stock Split\nwill automatically be reflected in their brokerage accounts.\n\n \n\n*Delaware\nState Filing*\n\n \n\nThe\nReverse Stock Split was effected pursuant to the Company’s filing of the Certificate of Amendment with the Secretary of State of\nthe State of Delaware. A copy of the form of the Certificate is attached as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated\nherein by reference.\n\n \n\n*Capitalization*\n\n \n\nThe\nCompany is authorized to issue 500,000,000 shares of Common Stock and 10,000,000 shares of preferred stock (the “Preferred Stock”).\nThere will be no change to the number of authorized capital stock of the Company or to the rights limitations and privileges, including\nvoting rights, of the Company’s designated and outstanding shares of Preferred Stock. The Reverse Stock Split will have no effect\non the par value of the Common Stock or the Preferred Stock.\n\n \n\nImmediately\nafter the Reverse Stock Split, each Common Stockholder’s percentage ownership interest in the Company’s Common Stock and\nproportional voting power of the Company’s Common Stock shall remain unchanged, except for minor changes and adjustments that will\nresult from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will remain unaffected\nby the Reverse Stock Split."}