Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 65

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 65
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Stock Purchase Price”).
The warrants are exercisable until November 30, 2026.

Equity Transaction with Acuitas

On July 15, 2022, the Company entered into a securities
purchase agreement (the “2022 Purchase Agreement”) with Acuitas Group Holdings, LLC (“Acuitas”), pursuant to which
Acuitas agreed to purchase from the Company, in a private placement (the “2022 PIPE Transaction”), (i) an aggregate of 363,636
shares of the Company’s Common Stock at a price of $16.50 per share (the “PIPE Shares”), and (ii) a warrant to purchase
727,273 shares of Common Stock (the “PIPE Warrant Shares” and, together with the PIPE Shares, the “PIPE Securities”),
at an exercise price of $18.20, with a term of exercise of five years. The warrant has a down round feature that reduces the exercise
price if the Company sells stock for lower price.

<div align='center'>II-2</div>

Placement Agent I Warrants Issued in Connection with Offering on March 4, 2024

On March 4, 2024, the Company entered into the
March 4, 2024 PAA with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale directly to the March 4 Investor
of up to 2,100,000 shares of Common Stock, at a public offering price to the March 4 Investors of $10.00 per share of Common Stock and/or
pre-funded warrants to purchase shares of Common Stock at a public offering price to the March 24 Investors of $9.999 per pre-funded warrant,
together with warrants to purchase up to 1,050,000 shares of Common Stock.

In connection to the March 4 Offering, the Company
issued the Placement Agent I Warrants, exercisable to purchase 105,000 shares of Common Stock, representing 5% of the March 4 Securities
purchased at the closing of the March 4 Offering, for an aggregate purchase price of $100.00, at an exercise price of $12.50 per share,
which is equal to 125% of the March 4 Share Offering Price. The Placement Agent I Warrants are exercisable from 180 days following the
date of issuance in accordance with Rule 5110(g)(8)(A) of FINRA and will expire five years following the date of