Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 225

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 225
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 capacity as a director, officer, employee or agent, or arising out of his status as such, whether
or not the corporation has the authority to indemnify him against such liability and expenses.

Our Articles of Incorporation, as amended, and
amended and restated bylaws implement the indemnification and insurance provisions permitted by Chapter 78 of the NRS by providing that:

| · | We shall indemnify our directors and officers to the fullest extent permitted by the NRS against expense,                  
 liability and loss reasonably incurred or suffered by them in connection with their service as an officer or director; and |

| · | We may purchase and maintain insurance, or make other financial arrangements, on behalf of any person                                   
 who holds or who has held a position as a director, officer, or representative against liability, cost, payment, or expense incurred by 
 such person                                                                                                                             |

Item 15. Recent Sales of Unregistered Securities

The Company has not sold any securities within
the past three years which were not registered under the Securities Act except as set forth below. The registrant believes that, unless
otherwise noted, all of the transactions described in Item 15 were exempt from registration under the Securities Act pursuant to Section
4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated thereunder.

Equity Transaction with Acuitas

On July 15, 2022, the Company entered into a securities
purchase agreement (the “2022 Purchase Agreement”) with Acuitas Group Holdings, LLC (“Acuitas”), pursuant to which
Acuitas agreed to purchase from the Company, in a private placement (the “2022 PIPE Transaction”), (i) an aggregate of 36,364
shares of the Company’s Common Stock at a price of $165.00 per share (the “PIPE Shares”), and (ii) a warrant to purchase
72,727 shares of Common Stock (the “PIPE Warrant Shares” and, together with the PIPE Shares, the “PIPE Securities”),
at an exercise price of $182.00, with a term of exercise of five years. The warrant has a down round feature that reduces the exercise
price if the Company sells stock for lower price.

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Placement Agent I Warrants Issued in Connection with Offering on March 4, 2024

On March 4, 2024, the Company entered into the
March 4, 2024 P