Company: BIVIW
Filing Date: 2025-05-07
Form Type: PRE 14C
Source: 0001520138-25-000140
Chunk: 21

Company: BIOVIE INC.
Filing Date: 2025-05-07
Form: PRE 14C
Chunk 21
---
 reverse stock split will not result in
the recognition of gain or loss for federal income tax purposes. The adjusted basis of the new shares of common stock will be the same
as the adjusted basis of the common stock exchanged for such new shares. The holding period of the new, post-reverse stock split shares
of the common stock resulting from implementation of the reverse stock split will include the stockholder’s respective holding periods
for the pre-reverse stock split shares. Stockholders who acquired their shares of our common stock on different dates or at different
prices should consult their tax advisors regarding the allocation of the tax basis of such shares.

The foregoing views are not binding on the Internal
Revenue Service or the courts. Accordingly, each stockholder should consult with his or her own tax advisor with respect to all of the
potential tax consequences to him or her of the reverse stock split.

Vote Required and Recommendation of the Board of Directors

The approval of Proposal 1 requires the number of votes
cast in favor of the proposal to exceed the number of votes cast against the action. Abstentions and broker non-votes will have no effect
on this proposal.

<div align='center'>YOUR BOARD OF DIRECTORS
UNANIMOUSLY RECOMMENDS A VOTE “FOR” PROPOSAL 1 TO GRANT TO THE BOARD OF DIRECTORS AUTHORITY, IN ITS SOLE DISCRETION, PRIOR
TO THE ONE-YEAR ANNIVERSARY OF THIS SPECIAL MEETING, TO EFFECT A REVERSE STOCK SPLIT OF THE OUTSTANDING SHARES OF THE COMPANY’S
COMMON STOCK, AT A REVERSE SPLIT RATIO OF BETWEEN 1-FOR-5 AND 1-FOR-10 AS DETERMINED BY THE BOARD OF DIRECTORS, WHEREBY EVERY 5 TO 10
SHARES OF THE AUTHORIZED, ISSUED AND OUTSTANDING COMMON STOCK SHALL BE COMBINED INTO ONE (1) SHARE OF AUTHORIZED, ISSUED AND OUTSTANDING
COMMON STOCK.</div>

| -15- |

<div align='center'>PROPOSAL 2

GRANT OF DISCRETIONARY
AUTHORITY TO ADJOURN THE SPECIAL MEETING IF NECESSARY TO SOLICIT ADDITIONAL PROXIES</div>

Although it is not expected, the Special Meeting may
need to be adjourned for the purpose of soliciting additional proxies in favor of Proposal 1. We are seeking stockholder approval of this
Proposal 2 to grant discretionary authority to adjourn