Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 48

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 48
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ances
of shares of our Common Stock at a price below the warrant exercise price.

Lock-Up Agreements

We have agreed that, for a period of three months
from the closing of the offering, we will not (a) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase
any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or
indirectly, any shares of capital stock of our Company or any securities convertible into or exercisable or exchangeable for shares of
capital stock of our Company; (b) file or caused to be filed any registration statement with the SEC relating to the offering of any shares
of capital stock of our Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of our Company;
(c) complete any offering of debt securities of our Company, other than entering into a line of credit with a traditional bank or (d)
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of capital stock of our Company, whether any such transaction described in clause (a), (b), (c) or (d) above is to be settled by delivery
of shares of capital stock of our Company or such other securities, in cash or otherwise, subject to certain exceptions.

Moreover, pursuant to “lock-up” agreements,
our executive officers, directors and certain of our stockholders have agreed for a period of three months from the date of this prospectus,
subject to customary exceptions, without the prior written consent of the Representative, not to, directly or indirectly (a) offer, sell,
agree to offer or sell, solicit offers to purchase, grant any call option or purchase any put option with respect to, pledge, encumber,
assign, borrow or otherwise dispose of any shares of Common Stock, any warrant or option to purchase such shares or any other of our securities
or of any other entity that is convertible into, or exercisable or exchangeable for, shares of our Common Stock or any other of our equity
securities (each a “Relevant Security” and collectively, “Relevant Securities”), in each case owned beneficially
owned by them or otherwise publicly disclose the intention to do so, or (b) establish or increase any “put equivalent position”
or liquidate or decrease any “call equivalent position” with respect to any Relevant Security (in each