Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 174

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 174
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,749 shares of common stock under the Sales Agreement for total net proceeds of approximately $9.3
million after deducting 3% commissions and expenses of approximately $377,000. During the year ended June 30, 2023, the Company sold 753,925
shares of common stock under the Sales Agreement for total net proceeds of approximately $49.5 million after 3% commissions and expenses
of approximately $2.0 million.

On March 6, 2024, the Company closed a best efforts
public offering (the “Offering”) of 1,500,000 shares (the “Shares”) of its common stock, par value $0.001 per
share (the “Common Stock”), pre-funded warrants (the “Pre-funded Warrants”) to purchase 600,000 shares of Common
Stock, and warrants to purchase up to 1,050,000 shares of Common Stock (the “Common Warrants”) at a combined public offering
price of $10.00 per Share, or Pre-funded Warrant, and the associated Common Warrant. The Common Warrants have an exercise price of $15.00 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance.The gross proceeds to the Company from the Offering were approximately $21.0 million, before deducting placement
agent fees and offering expenses of approximately $2.5 million, resulting in net proceeds of approximately $18.5 million. Additionally,
upon closing the Company issued the placement agent warrants (“Placement Agent’s warrants”) to purchase 105,000 shares
of Common Stock exercisable at a per share price of $12.50, which was equal to 125% of the public offering price per share. The Placement
Agent’s Warrants are exercisable during a five-year period commencing 180 days from March 6, 2024. The Pre-Funded Warrants were
exercised shortly after issuance and the 600,000 shares of Common Stock were issued during the year ended June 30, 2024.

F-18

| 9. | Equity Transactions (continued) |

Issuance of common stock for services

On April 6, 2023, the Company awarded 5,000 shares
of Common Stock to a vendor as part of their fees in exchange for services. The fair value of the Common Stock at the date of issuance
was $74.50 per share. The stock-based compensation expense related