Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 38

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 38
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 the date of issuance in accordance
with the 5110(g)(8)(A) of FINRA and will expire five years following the date of issuance.

The holders of the placement agent warrants may exercise
the placement agent warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares. The holders of
the placement agent warrants may also exercise the placement agent warrants on a cashless or “net issuance” basis by receiving
a net number of shares calculated pursuant to the formula set forth in the placement agent warrants. The placement agent warrants are
subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the terms of the placement
agent warrants, the holders are entitled to piggyback registration rights if the Company proposes to file a new registration statement
under the Securities Act, subject to certain limitations.

| II-2 |

Private Placement Warrants and Placement Agent Warrants Issued in Connection with Offering on October 21, 2024

On October 21, 2024, the Company entered into a placement
agency agreement with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale of up to 444,300 shares of the
Common Stock, at a public offering price of $15.00 per share.

In a concurrent private placement, pursuant to the
placement agency agreement, to issue unregistered private placement warrants to purchase 444,300 shares of Common Stock, with each private
placement warrant exercisable for one share of Common Stock at an exercise price of $13.70 per share. Each private placement warrant is
exercisable beginning six months from the date of issuance and will expire five years following the initial exercise date.

The holders of the private placement warrants may
exercise the private placement warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares. The
holders of the private placement warrants may also exercise the private placement warrants on a cashless or “net issuance”
basis by receiving a net number of shares calculated pursuant to the formula set forth in the private placement warrants. The private
placement warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the
terms of the private placement warrants, the Company has the obligation to file a registration statement on Form S-1 providing for the
resale by the holders of the private placement warrants of the shares of Common Stock issued and issuable upon exercise of the private