SCHEDULE: Balyasny Asset Management Boosts Beyond Air Stake

Balyasny Asset Management and its affiliates report a 9.99% beneficial ownership stake in Beyond Air, Inc., including shares from warrants.

Summary

• Balyasny Asset Management L.P. and its affiliated entities, including BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, collectively reported beneficial ownership of 12,290,913 shares of Beyond Air, Inc. Common Stock.
• This aggregate ownership represents approximately 9.99% of Beyond Air, Inc.'s outstanding Common Stock.
• The reported shares include 8,956,504 shares of Common Stock issuable upon the exercise of warrants.
• The percentage of ownership is calculated based on 92,794,777 shares outstanding as of June 19, 2025, as reported in Beyond Air, Inc.'s Annual Report on Form 10-K filed on June 20, 2025.
• The reporting persons are subject to a 9.99% beneficial ownership blocker, meaning they cannot exercise warrants if it would result in their ownership exceeding 9.99% of the outstanding Common Stock.
• The securities are held by Atlas Diversified Master Fund, Ltd. (ADMF), an investment management client of Balyasny Asset Management L.P.

Sentiment

Score: 8

Explanation: The acquisition of a significant stake by a reputable institutional investor like Balyasny Asset Management is a strong positive signal, indicating confidence in Beyond Air, Inc. The 9.99% blocker is a minor limitation but does not detract significantly from the overall positive sentiment of a large institutional investment.

Positives

• A significant institutional investor, Balyasny Asset Management, has taken a substantial 9.99% stake in Beyond Air, Inc., signaling potential confidence in the company's future prospects.
• The investment includes a large number of warrants, indicating a long-term bullish view on the stock's potential appreciation.

Negatives

• The 9.99% beneficial ownership blocker limits the ability of Balyasny Asset Management to fully exercise all their warrants, potentially capping their immediate upside from these instruments.

Risks

• The '9.99% Blocker' provision in the warrants prevents the reporting persons from exercising warrants if it would cause their beneficial ownership to exceed 9.99% of the outstanding common stock, limiting their ability to increase their stake beyond this threshold.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view this significant institutional investment as a vote of confidence, potentially leading to increased investor interest and positive sentiment towards Beyond Air, Inc.'s stock.

Key Dates

Recommendation

The acquisition of a substantial 9.99% stake by a sophisticated institutional investor like Balyasny Asset Management suggests a strong belief in Beyond Air, Inc.'s long-term value proposition. This institutional backing, particularly with a significant warrant component, often precedes positive market re-evaluation and could indicate an attractive entry point for other investors.

Keywords

Beyond Air Inc, Balyasny Asset Management, Institutional Ownership, Common Stock, Warrants, Beneficial Ownership, SEC Filing, Investment Management, Healthcare, Biotechnology