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GARDEN CITY, NY – Beyond Air (NASDAQ:XAIR), Inc., a medical device company specializing in the production of surgical and medical instruments, announced today that its 2025 Annual Meeting of Stockholders is scheduled for December 9, 2024. This date was finalized by the company's Board of Directors on October 9, 2024. The specific time and location of the meeting will be detailed in Beyond Air's definitive proxy statement, which will be filed with the Securities and Exchange Commission.
In anticipation of the 2025 Annual Meeting, Beyond Air has set a deadline for stockholder proposals. Proposals for consideration in the proxy materials must be received at the company's principal executive offices by the close of business on October 19, 2024. This applies to both proposals under SEC Rule 14a-8 and nominations or other business propositions as per the company’s Amended and Restated Bylaws.
Stockholders intending to present proposals must also adhere to the SEC rules, including Rule 14a-8, relevant Delaware law, and the company's Bylaws. Any submissions after the stated deadline will not be considered for the agenda of the 2025 Annual Meeting.
In other recent news, Beyond Air, Inc., a medical device company, has secured an $11.5 million loan and entered into an equity warrant deal, as part of a significant financial agreement. The company also reported a first-quarter revenue of $0.6 million and an operating loss of $13.5 million. Beyond Air's stock was upgraded to a 'Buy' rating by Roth/MKM, citing the potential of their LungFit PH system, while Piper Sandler maintained an Overweight rating but reduced its price target for Beyond Air shares to $1.00.
Beyond Air has also announced a strategic partnership with Healthcare Links to expand the distribution of its LungFit® PH system in the US. The company has also retired a $17.5 million debt with Avenue Capital and established a new $11.5 million loan agreement, expected to support the company's operations until mid-2026.
InvestingPro Insights
As Beyond Air, Inc. (XAIR) prepares for its 2025 Annual Meeting of Stockholders, investors may benefit from additional financial insights. According to InvestingPro data, the company's market capitalization stands at $16.61 million, reflecting its current position in the medical device sector.
Two relevant InvestingPro Tips highlight that Beyond Air holds more cash than debt on its balance sheet and that liquid assets exceed short-term obligations. These factors could be of interest to stockholders as they consider the company's financial stability ahead of the annual meeting.
However, it's worth noting that the company's stock price has fallen significantly over the last year, with a one-year price total return of -84.86% as of the latest data. This performance may be a topic of discussion at the upcoming stockholder meeting.
For a more comprehensive analysis, InvestingPro offers 10 additional tips that could provide valuable context for investors considering their position in XAIR or preparing for the annual meeting.
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