Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 62

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 62
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20) per share, representing the difference between our as adjusted net tangible book value per share as of March 31,
2025 after giving effect to this offering and the assumed public offering price. The exercise of outstanding warrants and stock
options may also result in further dilution of your investment. See the section entitled “Dilution” on page 40 for a
more detailed illustration of the dilution you may incur if you participate in this offering.

Our management will have broad discretion
over the use of the net proceeds from this offering, may invest or spend the proceeds raised in this offering in ways with which you may
not agree and the proceeds may not yield a significant return.

Our management will have broad discretion over
the use of proceeds from this offering. We currently intend to use the net proceeds of this offering as described in the section entitled
“Use of Proceeds.” However, our management will have broad discretion in the application of the net proceeds from this offering
and could use them for purposes other than those contemplated at the time of this offering. Accordingly, you are relying on the judgment
of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision,
to assess whether the proceeds will be used appropriately. The failure by management to apply these funds effectively could result in
financial losses that could have a material adverse effect on our business, cause the price of our Common Stock to decline, and delay
the development of our product candidates. Pending their use, we may invest the net proceeds from this offering in short-term, interest-bearing
instruments. These investments may not yield a favorable return, or any return, to us or our stockholders.

Our stock price is and may continue
to be volatile and you may not be able to resell our Common Stock at or above the price you paid.

The market price for our Common Stock is volatile
and may fluctuate significantly in response to a number of factors, many of which we cannot control, such as quarterly fluctuations in
financial results, the timing and our ability to advance the development of our product candidates or changes in securities analysts’
recommendations could cause the price of our stock to fluctuate substantially. In addition, stock markets generally have recently experienced
volatility. Our stock price is likely to experience significant volatility in the future. The price of our Common Stock may decline and
the value of any investment in our Common Stock may be reduced regardless of our performance. Further, the daily