Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 3

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 3
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 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 , 2025, the last reported sales price of our Common Stock
on Nasdaq was $ 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.

Investing in our Common Stock involves a high degree of risk. See “Risk Factors” beginning on page 9.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

|                                                  |     | Per Unit |     | Per             
 Pre-funded Unit |     | Total |
|:-------------------------------------------------|:----|:---------|:----|:----------------|:----|:------|
| Public offering price                            |     | $        |     | $               |     | $     |
| Underwriting discounts and commissions (7.0%)(1) |     | $        |     | $               |     | $     |
| Proceeds, before expenses, to us                 |     | $        |     | $               |     | $     |

| (1) | Underwriting discounts and commissions do not include a non-accountable expense allowance equal to                             
 1.0% of the initial public offering price payable to the underwriters. We refer you to “Underwriting” beginning on page 30 for 
 additional information regarding the underwriters’ compensation.                                                               |

We have granted a 45-day option to the underwriters to purchase up to
additional shares of Common Stock and/or up to additional Pre-funded Warrants and/or up to additional Warrants, or any