Beyond Air, Inc. (XAIR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: January 30, 2026

Risk Assessment Details

Potential Dilution: 361.66% of current shares
Recent Dilution: 251.51% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
11M
Potential Supply
38M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

XAIR currently has 10.5M outstanding shares. with significant dilution risk as 38.1M authorized shares could dilute existing holders by 361.7%. The company has significantly diluted shareholders by 251.51% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jan 30, 2026

S-3 filing: This prospectus relates to the resale or other disposition from time to time by the selling stockholders identified herein of (i) 524,990 shares of common stock, (ii) 3,405,828 shares of common stock issuable on the exercise of pre-funded warrants to purchase common stock, and (iii) 3,930,818 shares of common stock issuable on the exercise of common stock purchase warrants.

11M 38M
Jan 20, 2026

8-K filing: Beyond Air, Inc. completed a private placement offering, selling shares, pre-funded warrants, and common warrants to an institutional investor for gross proceeds of $5,000,000. ($5.0M proceeds)

7.9M 25M
Dec 11, 2025

S-1/A filing: This prospectus relates to the offer and resale, from time to time, of up to 1,600,000 shares of common stock of Beyond Air, Inc., held by Streeterville Capital, LLC.

7.9M 25M
Nov 21, 2025

S-1 filing: This prospectus relates to the offer and resale of up to 1,600,000 shares of Beyond Air, Inc. common stock by Streeterville Capital, LLC, with the company potentially receiving up to $20,000,000 from sales of common stock to Streeterville under an Equity Purchase Agreement.

7.9M 25M
Nov 05, 2025

8-K filing: Beyond Air, Inc. entered into an equity purchase agreement with Streeterville Capital, LLC for the purchase of up to $20 million of the Company's shares of common stock and amended and restated a loan and security agreement to provide for an additional $2,000,000 term loan and the issuance of new warrants.

7.9M 23M
Sep 30, 2025

S-3/A filing: This S-3/A filing from 2025-09-30 pertains to the registration for resale of up to 719,561 shares of the Company's common stock issuable upon exercise of outstanding common stock purchase warrants held by the selling stockholders.

7.9M 23M
Sep 25, 2025

S-3 filing: This prospectus relates to the resale or other disposition from time to time by the selling stockholders of 719,561 shares of common stock issuable on the exercise of common stock purchase warrants.

7.9M 23M
Sep 09, 2025

8-K filing: Beyond Air, Inc. entered into an inducement offer letter agreement with 9 holders of existing common stock purchase warrants to purchase up to an aggregate of 1,439,126 shares of common stock, at a reduced exercise price of $2.21, resulting in gross proceeds of approximately $3.18 million to the Company. ($3.18M proceeds)

4.6M 26M
Jul 14, 2025
Stock Split

8-K filing: Stock split 1-for-20 | Outstanding: 92,794,777 → 4,639,738

4.6M 26M
Jun 20, 2025

10-K filing | 92.8M shares outstanding

93M 520M
Feb 10, 2025

10-Q filing | 88.1M shares outstanding

88M 520M
Jan 31, 2025

S-3 filing: The company may offer shares of common stock, preferred stock, warrants to purchase shares of common stock, preferred stock and/or debt securities, debt securities consisting of debentures, notes or other evidences of indebtedness, units consisting of a combination of the foregoing securities; or any combination of these securities, up to an aggregate initial offering price of $200,000,000.

47M 560M
Nov 21, 2024

S-3/A filing: This S-3/A filing from 2024-11-21 registers 73,765,634 shares of common stock for resale by selling stockholders, including shares already issued, shares issuable upon exercise of pre-funded warrants, and shares issuable upon exercise of common warrants.

47M 38M
Nov 12, 2024

10-Q filing | 72.2M shares outstanding

72M 21M
Nov 06, 2024

8-K filing: Beyond Air, Inc. entered into a Loan and Security Agreement for a $11,500,000 loan and issued warrants to purchase common stock to lenders Steven Lisi and Robert Carey.

47M 46M
Oct 25, 2024

S-3 filing: The selling stockholders may offer and resell from time to time up to an aggregate of 81,697,422 shares of common stock.

47M 46M
Sep 27, 2024

8-K filing: Beyond Air, Inc. entered into a securities purchase agreement to sell 25,000,000 shares of common stock, pre-funded warrants to purchase 15,392,155 shares, and warrants to purchase 40,392,155 shares for gross proceeds of $20,600,000. ($20.59M proceeds)

46M 0
Aug 20, 2024

S-3 filing: The selling stockholders named in this prospectus may use this prospectus to offer and resell from time to time up to 1,724,019 shares of our common stock.

46M 0
Aug 06, 2024

10-Q filing | 45.9M shares outstanding

46M 0
Jun 27, 2024

8-K filing: Beyond Air, Inc. entered into the First Amendment to Loan Documents with Avenue Capital Management, issuing warrants to purchase up to 100,000 shares of common stock.

46M 0
Jun 24, 2024

10-K filing | 45.9M shares outstanding

46M 0
Mar 22, 2024

8-K filing: Beyond Air, Inc. entered into a securities purchase agreement to sell 9,638,556 shares of common stock and 9,638,556 common stock purchase warrants at a combined price of $1.66 per share and warrant, resulting in net proceeds of approximately $14.6 million.

32M 0
Feb 12, 2024

10-Q filing | 32.5M shares outstanding

32M 0
Nov 13, 2023

10-Q filing | 31.8M shares outstanding

32M 0
Aug 11, 2023

S-3 filing: The selling stockholders named in this prospectus may use this prospectus to offer and resell from time to time up to 626,308 shares of our common stock

32M 0
Aug 10, 2023

10-Q filing | 31.4M shares outstanding

31M 0
Jun 22, 2023

10-K filing | 30.0M shares outstanding

30M 0
Jun 20, 2023

8-K filing: Beyond Air, Inc. entered into a Loan and Security Agreement for up to $40 million and issued warrants to purchase common stock to Avenue Capital Management II, L.P., Avenue Venture Opportunities Fund, L.P., and Avenue Venture Opportunities Fund II, L.P.

30M 0
Feb 10, 2023

10-Q filing | 29.9M shares outstanding

30M 0
Nov 08, 2022

10-Q filing | 29.9M shares outstanding

30M 0
Aug 11, 2022

10-Q filing | 29.9M shares outstanding

30M 0
Jun 29, 2022

10-K filing | 29.9M shares outstanding

30M 0
Feb 10, 2022

10-Q filing | 29.8M shares outstanding

30M 0
Jan 24, 2022

S-3 filing: Beyond Air, Inc. files an S-3 registration statement to offer common stock, preferred stock, debt securities, warrants, and units for an aggregate initial offering price not to exceed $200,000,000.

27M 0
Nov 12, 2021

10-Q filing | 26.6M shares outstanding

27M 0
Aug 10, 2021

10-Q filing | 23.9M shares outstanding

24M 0
Jun 10, 2021

10-K filing | 16.1M shares outstanding

16M 0
Feb 09, 2021

10-Q filing | 16.1M shares outstanding

16M 0
Nov 12, 2020

10-Q filing | 16.1M shares outstanding

16M 0
Aug 06, 2020

10-Q filing | 16.1M shares outstanding

16M 0
Jun 23, 2020

10-K filing | 8.7M shares outstanding

8.7M 170K
May 20, 2020

8-K filing: Beyond Air, Inc. entered into a Purchase Agreement with Lincoln Park to sell up to $40,000,000 of shares of common stock at the Company's discretion, including an initial purchase of 325,000 shares at $8.58 per share and additional shares up to $37,211,500 over 36 months, subject to certain conditions and limitations. ($2.79M proceeds)

8.7M 170K
May 07, 2020

S-3/A filing: This S-3/A filing relates to the offer and sale by selling stockholders of up to 172,187 shares of common stock issuable upon the exercise of outstanding warrants issued on March 17, 2020.

8.7M 170K
May 01, 2020

S-3 filing: This prospectus relates to the offer and sale by the selling stockholders of up to 172,187 shares of common stock issuable upon the exercise of outstanding warrants.

8.7M 170K
Mar 20, 2020

8-K filing: Beyond Air, Inc. issued warrants to purchase up to 172,187 shares of common stock at an exercise price of $7.26 per share to lenders in connection with a loan tranche.

8.7M 0
Feb 07, 2020

10-Q filing | 8.7M shares outstanding

8.7M 0
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