Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 27

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 27
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 The exercise price and number of shares of Common Stock
issuable upon exercise is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar
events affecting our Common Stock and the exercise price.

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Exercisability

The Warrants are exercisable, at the option of each
holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares
of our Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder (together with
its affiliates) may not exercise any portion of any Warrant to the extent that the holder would own more than 4.99% of the outstanding
Common Stock immediately after exercise, except that upon at least 61 days’ prior notice from the holder to us, the holder may increase
the amount of ownership of outstanding Common Stock after exercising the holder’s Warrants up to 9.99% of the number of shares of
our Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance
with the terms of the Warrants. No fractional shares of our Common Stock will be issued in connection with the exercise of a Warrant.
In lieu of fractional shares, we will round up to the next whole share.

Cashless Exercise

If, at the time a holder exercises its Warrants, a
registration statement registering the issuance of the shares of our Common Stock underlying the Warrants under the Securities Act is
not then effective or available and an exemption from registration under the Securities Act is not available for the issuance of such
shares, then in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate
exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number of shares of our
Common Stock determined according to a formula set forth in the Warrants.

Exercise Price

Each Warrant has an initial exercise price per share
equal to $2.50.

Warrant Agent

Pursuant to a warrant agent agreement between us and
West Coast Stock Transfer, Inc., as warrant agent, the Warrants were issued in book-entry form and shall initially be represented only
by one or more global warrants deposited with the warrant agent, as custodian on behalf of The Depository Trust Company (“DTC”),
and registered in the name of Cede & Co.,