Beyond Air (XAIR) filed a preliminary prospectus Friday for the sale from time to time of up to about 81.7 million common shares of the company by certain investors.

The potential offering includes shares issuable upon the exercise of prefunded warrants, it said.

While the company will not receive any proceeds from the share sale, it said it will receive the net proceeds of any warrants exercised for cash, which will be used for general working capital purposes.

Shares of the company were down nearly 8% in recent after-hours activity.

Price: 0.3700, Change: -0.03, Percent Change: -7.94