Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 50

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 50
---
 offering. Notwithstanding anything to the contrary set forth above,
the Representative acknowledges that the Company is subject to a pre-existing agreement with a third party under which such third party
has a right of first refusal to act as the co-lead bookrunning underwriter, co-lead initial purchaser, co-lead placement agent or co-lead
selling agent, as the case may be, on any financing involving equity securities for the Company (the “Prior ROFR”). In case
the Representative wishes to exercise its Right of First Refusal hereunder, the Company will use its commercially reasonable efforts to
obtain a waiver of the Prior ROFR, subject to certain conditions.

<div align='center'>32</div>

Discretionary Accounts

The underwriters do not intend to confirm sales
of the Units and/or Pre-funded Units offered hereby to any accounts over which they have discretionary authority.

Electronic Distribution

This prospectus in electronic format may be made
available on websites or through other online services maintained by one or more of the underwriters, or by their affiliates. Other than
this prospectus in electronic format, the information on any underwriter’s website and any information contained in any other website
maintained by an underwriter is not part of this prospectus, has not been approved and/or endorsed by us or any underwriter in its capacity
as underwriter, and should not be relied upon by investors.

Nasdaq Capital Market Listing

Our Common Stock is listed on Nasdaq under the
symbol “BIVI”. We intend to apply to list the Warrants on Nasdaq under the symbol “BIVIW”. We cannot guarantee
that the Warrants will be approved for listing on Nasdaq. We do not intend to list the Pre-funded Warrants on any securities exchange
or nationally recognized trading system and do not expect a trading market to develop for the Pre-funded Warrants.

Stabilization

In connection with this offering, the underwriters
may engage in stabilizing transactions, over-allotment transactions, syndicate-covering transactions, penalty bids, and purchases to cover
positions created by short sales.

| ● | Stabilizing transactions permit bids to purchase securities so long as the stabilizing bids do not exceed a specified maximum and are engaged in for the purpose of preventing or retarding a decline in the market price of the securities while the offering is in progress.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| ● | Over-allotment transactions involve sales by the underwriters of securities in excess of the