Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 226

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 226
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 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 may also exercise the Private Placement I Warrants on a cashless or “net issuance”
basis by receiving a net number of shares calculated pursuant to the formula set forth in the Private Placement I Warrants. The Private
Placement I Warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to
the terms of the Private Placement I Warrants, the Company has the obligation to file a registration statement on Form S-1 providing for
the resale by the holders of the Private Placement I Warrants of the shares of Common Stock issued and issuable upon exercise of the Private
Placement I Warrants.

In connection with the October 21 Offering, the
Company issued the Placement Agent III Warrants, exercisable to purchase 22,215 shares of Common Stock, representing 5% of the October
21 Shares purchased at the closing of the October 21 Offering, for an aggregate purchase price of $100.00, at an exercise price of $18.75
per share, which is equal to 125% of the October 21 Share Offering Price.

The holders of the Placement Agent III Warrants
may exercise the Placement Agent III Warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares.
The holders of the Placement Agent III Warrants may also exercise the Placement Agent III Warrants on a cashless or “net issuance”
basis by receiving a net number of