Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 180

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 180
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 Company issued 359 shares of
Common Stock pursuant to a cashless exercise of warrants to purchase 800 shares at an average exercise price of $22.50.

In May 2023, the Company issued 48 shares of Common
Stock pursuant to a cashless exercise of stock options to purchase 80 shares at an average exercise price of $31.30.

Issuance of Stock Options under the 2019 Omnibus Plan.

Pursuant to a former employee’s Separation Agreement,
dated April 11, 2022, the Company modified their stock option award granted on August 20, 2021, pursuant to the 2019 Omnibus Plan (“2021
Options Grant”). Pursuant to the terms of the Separation Agreement, effective July 8, 2022 (the “Separation Date”),
the Company accelerated the vesting of options scheduled to vest on the first and second anniversary of the grant date as deemed vested
(“Accelerated Options”) and after giving effect to the Accelerated Options, extended the exercise period of the total vested
outstanding and unexercised options (totaling 7,450 options) to one year following the Separation Date. The unvested portion of the 2021
Option Grant (totaling 4,967 options) was canceled. The modification was remeasured as of July 8, 2022, and the incremental difference
in fair value resulted in a net credit to stock based compensation expense of $181,154, due to the original exercise price of $77.40 being
greater than the stock price of $18.00 on the remeasurement date, and accordingly was recognized on July 8, 2022.

On June 7, 2023, the Company granted stock options
to purchase 14,800 shares of Common Stock to certain employees. 20% of the shares underlying the options awarded vested on the grant date,
and the remaining 80% will vest in four equal annual installments beginning, on the first grant date anniversary. The exercise price of
the options is $57.80 per share, the grant date fair value and the options terminate on the earlier of the tenth grant date anniversary
or the date of which the options are fully exercised.

During the fiscal year ended June 30, 2023, the Company
granted stock options to purchase a total of 28,617 shares of Common Stock in connection with compensation packages of three new employees.
The exercise