Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 53

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 53
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 state (the relevant implementation date), an offer of securities
described in this prospectus may not be made to the public in that relevant member state other than:

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| ● | to any legal entity which is a qualified investor as defined in the Prospectus Directive;                                                                                                                                                                                                                                                                                                       |
| ● | to fewer than 100 or, if the relevant member state has implemented the relevant provision of the 2010 PD Amending Directive, 150 natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the relevant Dealer or Dealers nominated by us for any such offer; or |
| ● | in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of securities shall require us or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Directive.                                                                                                                                                    |

For purposes of this provision, the expression
an “offer of securities to the public” in any relevant member state means the communication in any form and by any means of
sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to purchase or
subscribe for the securities, as the expression may be varied in that member state by any measure implementing the Prospectus Directive
in that member state, and the expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including
the 2010 PD Amending Directive, to the extent implemented in the relevant member state) and includes any relevant implementing measure
in the relevant member state. The expression 2010 PD Amending Directive means Directive 2010/73/EU.

The sellers of the securities have not authorized
and do not authorize the making of any offer of securities through any financial intermediary on their behalf, other than offers made
by the underwriters with a view to the final placement of the securities as contemplated in this prospectus. Accordingly, no purchaser
of the securities, other than the underwriters, is authorized to make any further offer of the securities on behalf of the sellers or
the underwriters.

United Kingdom

This prospectus is only being distributed to,
and is only directed at, persons in the United Kingdom that are qualified investors within the meaning of Article 2(1)(e) of the Prospectus
Directive that are also (i) investment professionals falling within