Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 29

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 29
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% or more of the aggregate market value
of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income of the corporation, and (d) certain other
transactions with an interested stockholder or an affiliate or associate of an interested stockholder.

In general, an “interested stockholder”
is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation’s voting
stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts
to acquire our Company even though such a transaction may offer our stockholders the opportunity to sell their stock at a price above
the prevailing market price.

Control Share Acquisitions

The “control share” provisions of Sections
78.378 to 78.3793, inclusive, of the NRS apply to “issuing corporations” that are Nevada corporations with at least 200 stockholders,
including at least 100 stockholders of record who are Nevada residents, and that conduct business directly or indirectly in Nevada. The
control share statute prohibits an acquirer, under certain circumstances, from voting its shares of a target corporation’s stock
after crossing certain ownership threshold percentages, unless the acquirer obtains approval of the target corporation’s disinterested
stockholders. The statute specifies three thresholds: one-fifth or more but less than one-third, one-third but less than a majority, and
a majority or more, of the outstanding voting power. Generally, once an acquirer crosses one of the above thresholds, those shares in
an offer or acquisition and acquired within 90 days thereof become “control shares” and such control shares are deprived of
the right to vote until disinterested stockholders restore the right. These provisions also provide that if control shares are accorded
full voting rights and the acquiring person has acquired a majority or more of all voting power, all other stockholders who do not vote
in favor of authorizing voting rights to the control shares are entitled to demand payment for the fair value of their shares in accordance
with statutory procedures established for dissenters’ rights.

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A corporation may elect to not be governed by, or
“opt out” of, the control share provisions by making an election in its articles of incorporation or bylaws, provided that
the opt-out election must be in place on the 10 day following the date an acquiring person has acquired a controlling interest