Company: BIVIW
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001520138-25-000198
Chunk: 69

Company: BIOVIE INC.
Filing Date: 2025-07-03
Form: S-1
Chunk 69
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 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 shares calculated pursuant to the formula set forth in the Placement Agent III Warrants. The Placement
Agent III Warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the
terms of the Placement Agent III Warrants, the holders of the Placement Agent III Warrants are entitled to piggyback registration rights
if the Company proposes to file a new registration statement under the Securities Act, subject to certain limitations.

Private Placement II Warrants and Placement Agent IV Warrants Issued in Connection with Offering October 23, 2024

On October 23, 2024, the Company entered into
the October 23, 2024 PAA with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale directly to the October
23 Investors of up to 266,700 shares of the Common Stock, at a public offering price to the October 23 Investors of $22.50 per share.

In a concurrent private placement, pursuant to
the October 23,