Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 79

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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 Company closed an underwritten
public offering (the “Offering”) of (i) 5,620,000 units (the “Units”), with each Unit consisting of one share
of common stock and one warrant (the “Warrants”) and (ii) 380,000 pre-funded units (the “Pre-Funded Units”), with
each Pre-Funded Unit consisting of one pre-funded warrant and one Warrant. The underwriter also exercised its over-allotment option in
part and purchased an additional 667,300 Warrants. The Offering resulted in net proceeds of approximately $10.5 million, after deducting
underwriting discounts and commissions and other estimated offering expenses. Each Unit was sold to the public at a price of $2.00 per
Unit and each Pre-Funded Unit was sold to the public at a price of $1.999 per Pre-Funded Unit (which represents the public offering price
of each Unit less the $0.0001 per share nominal exercise price for each Pre-Funded Warrant). On August 8, 2025, the Warrants commenced
trading on The Nasdaq Capital Market under the symbol “BIVIW.” Each Warrant is immediately exercisable, entitles the holder
to purchase one share of common stock at an exercise price of $2.50 per share and expires five years from the date of issuance. Each Pre-Funded
Warrant is immediately exercisable, entitles the holder to purchase one share of common stock and may be exercised at any time until exercised
in full. 

Critical Accounting Policies and Estimates

There were no significant changes to the Company’s
critical accounting policies as identified in the Annual Report Form 10-K for the fiscal year ended June 30, 2025 (the “2025 Form
10-K”).

25

New Accounting Pronouncements

The Company considered the applicability and impact
of recent accounting pronouncements and determined those to be either not applicable or expected to have minimal impact on our balance
sheets or statement of operations and comprehensive loss.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not applicable to smaller reporting companies.

Item 4. Controls and Procedures

We maintain “disclosure controls and procedures.”
Such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act that are designed to ensure that information required to
be disclosed by us in reports that we file or submit under the Exchange