Company: BIVIW
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001520138-25-000198
Chunk: 68

Company: BIOVIE INC.
Filing Date: 2025-07-03
Form: S-1
Chunk 68
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 $100.00, at an exercise price
of $19.125 per share, which is equal to 125% of the September 23 Share Offering Price. The Placement Agent II Warrants are exercisable
from 180 days following the date of issuance in accordance with the 5110(g)(8)(A) of FINRA and will expire five years following the date
of issuance.

The holders of the Placement Agent II Warrants
may exercise the Placement Agent II Warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares.
The holders of the Placement Agent II Warrants may also exercise the Placement Agent II Warrants on a cashless or “net issuance”
basis by receiving a net number of shares calculated pursuant to the formula set forth in the Placement Agent II Warrants. The Placement
Agent II Warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the
terms of the Placement Agent II Warrants, the holders of the Placement Agent II Warrants are entitled to piggyback registration rights
if the Company proposes to file a new registration statement under the Securities Act, subject to certain limitations.

Private Placement I Warrants and Placement Agent III Warrants Issued in Connection with Offering on October 21, 2024

On October 21, 2024, the Company entered into
the October 21, 2024 PAA with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale directly to the October
21 Investors of up to 444,300 shares of the Common Stock, at a public offering price to the October 21 Investors of $15.00 per share.

In a concurrent private placement, pursuant to
the October 21, 2024 PAA, to issue to the October 21 Investors the unregistered Private Placement I Warrants to purchase 444,300 shares
of Common Stock, with each Private Placement I Warrant exercisable for one share of Common Stock at an exercise price of $13.70 per share.
Each Private Placement I Warrant will be exercisable beginning six months from the date of issuance and will expire five years following
the initial exercise date.

<div align='center'>II-3</div>

The holders of the Private Placement I Warrants
may exercise the Private Placement I Warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares.
The holders of the Private Placement I Warrants