Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 65

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 65
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to exercise their Pre-funded Warrants or Warrants.

We will not, in the case of the Pre-funded Warrants, and may not, in the case of the Warrants, receive any meaningful additional funds upon the exercise of the Pre-funded Warrants or Warrants.

Each Pre-funded Warrant and each Warrant will be exercisable until it is fully exercised and by means of payment of the nominal cash purchase price upon exercise or $2.50 cash purchase price upon exercise, respectively, or through a “cashless exercise” procedure. Accordingly, we will not, in the case of the Pre-funded Warrants, and may not, in the case of the Warrants, receive any meaningful additional funds upon the exercise of the Pre-funded Warrants or Warrants.

If we do not maintain a current and effective prospectus relating to our Common Stock issuable upon exercise of the Pre-funded Warrants or the Warrants, holders will only be able to exercise such Pre-funded Warrants or the Warrants on a “cashless basis.”

If we do not maintain a current and effective
prospectus relating to the shares of our Common Stock issuable upon exercise of the Pre-funded Warrants or the Warrants at the time that
holders wish to exercise such warrants, they will only be able to exercise them on a “cashless basis,” and under no circumstances
would we be required to make any cash payments or net cash settle such warrants to the holders. As a result, the number of shares of our
Common Stock that holders will receive upon exercise of the Pre-funded Warrants or the Warrants will be fewer than it would have been
had such holders exercised their Pre-funded Warrants or the Warrants for cash. If we are unable to maintain a current and effective prospectus,
the potential “upside” of the holder’s investment in our company may be reduced.

Significant holders or beneficial holders of shares of our Common Stock may not be permitted to exercise the Pre-funded Warrants that they hold.

A holder of the Pre-funded Warrants will not be
entitled to exercise any portion of any Pre-funded Warrant that, upon giving effect to such exercise, would cause: (i) the aggregate number
of shares of our Common Stock beneficially owned by such holder (together with its affiliates) to exceed 4.99% (or 9.99% at the election
of the holder) of the number of shares of our Common Stock immediately after giving effect to the exercise; or (ii