Company: BIVIW
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001520138-25-000198
Chunk: 3

Company: BIOVIE INC.
Filing Date: 2025-07-03
Form: S-1
Chunk 3
---
 all of the Pre-funded Warrants
are exercised in full. For each Pre-funded Unit we sell, the number of Units that we are offering will be decreased on a one-for-one basis.

The Common Stock and Pre-funded Warrants, as the case may be, and the accompanying Warrants, can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance. Pursuant to the registration statement of which this prospectus forms a part, we are also registering the shares of Common Stock issuable upon exercise of the Warrants and Pre-funded Warrants included in the Units and Pre-funded Units offered hereby.

Our shares of Common Stock are listed on Nasdaq
under the symbol “BIVI.” On July 1, 2025, the last reported sales price of our Common Stock on Nasdaq was $0.931 per
share. There is no established trading market for the Pre-funded Warrants or Warrants. We intend to apply to list the Warrants on Nasdaq
under the symbol “BIVIW”. We cannot guarantee that the Warrants will be approved for listing on Nasdaq. We do not intend to
list the Pre-funded Warrants on any securities exchange or nationally recognized trading system and do not expect a trading market to
develop for the Pre-funded Warrants.

At a special meeting of the Company’s stockholders
held on June 23, 2025, the Company’s stockholders approved a proposal to grant the Board of Directors of the Company (the “Board”)
authority, in its sole discretion, prior to the one-year anniversary of such special meeting, to effect a reverse stock split of the outstanding
shares of Common Stock, at a ratio between 1-for-5 and 1-for-10. On June 26, 2025, pursuant to the authority granted by the Company’s
stockholders, the Board approved a reverse stock split of our Common Stock at a ratio of 1-for-10 (the “Reverse Stock Split”). The
Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on July 7, 2025, prior to the effectiveness of the registration statement
of which this prospectus forms a part. Other than our historical financial statements and notes thereto incorporated by reference herein,
and except where otherwise noted, all references to our Common Stock presented in this prospectus have been adjusted to give retroactive
effect to the Reverse Stock Split.

Investing in our Common Stock involves a