Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 47

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 47
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 offering,
including registration, filing and listing fees, printing fees and legal and accounting expenses, but excluding underwriting discounts
and commissions and excluding the non-accountable expense allowance, are approximately $
.

Representative’s Warrants

Upon closing of this offering, we have agreed
to issue the Representative warrants (“Representative’s Warrants”) to purchase up to 5% of the aggregate number of Units
and Pre-funded Units sold. The Representative’s Warrants will be exercisable at an exercise price equal $ , which
is equal to 125% of the per Unit price of $ . The Representative’s Warrants are exercisable at
any time and from time to time, in whole or in part, during the five-year period commencing 180 days from the commencement of sales of
the Securities in this offering.

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The Representative’s Warrants have been
deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to Rule 5110(e)(1)(A) of FINRA. The Representative
(or permitted assignees under Rule 5110(e)(2)) will not sell, transfer, assign, pledge, or hypothecate these warrants or the securities
underlying these warrants, nor will they engage in any hedging, short sale, derivative, put, or call transaction that would result in
the effective economic disposition of the warrants or the underlying securities for a period of 180 days following the commencement of
sales of the securities issued in this offering. In addition, the Representative’s Warrants provide for registration rights upon
request, in certain cases. The sole demand registration right provided will not be greater than five years from the commencement of sales
of the securities issued in this offering in compliance with FINRA Rule 5110(g)(8)(C). The piggyback registration rights provided will
not be greater than seven years from the commencement of sales of the securities issued in this offering in compliance with FINRA Rule
5110(g)(8)(D). We will bear all fees and expenses attendant to registering the securities issuable on exercise of the warrants other than
underwriting commissions incurred and payable by the holders. The exercise price and number of shares issuable upon exercise of the Representative’s
Warrants may be adjusted in certain circumstances including in the event of a stock dividend or our recapitalization, reorganization,
merger or consolidation. However, the Representative’s Warrant exercise price or underlying shares will not be adjusted for issu