Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 110

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 110
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 registered
direct offerings totaling 8,256,000 shares of its common stock, par value $0.0001 per share, and two concurrent private placements of
warrants to purchase up to 8,256,000 shares of Common Stock (the “October Common Warrants”) priced at-the-market under Nasdaq rules
at prices ranging from $1.50 to $2.83 per share (the “October Offerings”). The October Common Warrants have exercise
prices ranging from $1.37 to $2.83 per share and are exercisable beginning six months following issuance and will expire on the fifth
anniversary date of the original issuance dates. The gross proceeds to the Company from the October Offerings totaled approximately
$15.9 million, before deducting placement agent fees and offering expenses of approximately $2.8 million. Additionally, upon closing of
the October Offerings the Company issued placement agent warrants (the “October Placement Agent’s Warrants”) to purchase
412,800 shares of Common Stock in the aggregate exercisable at a per share price ranging from $1.88 to $3.54, which was equal to 125%
of the offering price per share in the applicable October Offering. The October Placement Agent’s Warrants are exercisable during
a five-year period commencing 180 days from each of the respective closing dates of the October Offerings.

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Off-Balance Sheet Arrangements

The term “off-balance sheet arrangement”
generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party,
under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii)
a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market
risk support for such assets. The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or
future effect or change on the Company’s financial condition, revenues or expenses, results of operations, liquidity, capital expenditures
or capital resources that are material to investors.

Critical Accounting Policies and Estimates

Cash and cash equivalents

Cash and cash equivalents consisted of cash deposits
and money market funds held at a bank and funds held in a brokerage account which included a U.S. treasury money market fund and U.S.
Treasury Bills with original maturities of three months or less.

Concentration of Credit