Beyond Air, Inc. Announces Closing of $11.5 Million Public Offering and Private Placement of Common Stock and Exercise of Option to Purchase Additional Shares
GARDEN CITY, N.Y. and REHOVOT, Israel, Dec. 12, 2019 (GLOBE NEWSWIRE) — Beyond Air, Inc. (XAIR), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, announced today the closing of its previously announced underwritten public offering of 2,620,199 shares of common stock, including 295,199 shares sold pursuant to the underwriters’ partial exercise of their option to purchase additional shares, at a public offering price of $3.66 per share.
Paul Arndt is an investor relations and corporate communications executive with 20 years of corporate and agency experience. Previously, Paul was Sr. Manager of Investor Relations for Spectrum Pharmaceuticals during which time the company saw a more than 23-fold growth in its market capitalization, an increase in sell-side analyst coverage from two to seven and an increase in institutional ownership from 25% to more than 70% through proactive investor targeting. Prior to Spectrum, he led investor relations and corporate communications for NeoPharm, Inc., where he was responsible for executing long-term investor, corporate, employee, and media relations programs designed to develop and refine core messages to optimize value creation, contributing to a more than 500% increase in market capitalization and a doubling of analyst coverage through several corporate events. Paul also served as an IR consultant at Hill & Knowlton and David A. Noyes & Company. Paul earned his MBA from the Lake Forest Graduate School of Management in Chicago and his Bachelor of Arts in Communications from Quincy University in Quincy, Illinois. He is also a NIRI-National and NIRI-Chicago chapter member, and a recent Officer of the NIRI-Orange County, California chapter.