Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 40

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 40
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 Pre-funded Warrants and may be transferred separately immediately thereafter.

Exercisability

The Warrants will be exercisable, at the option
of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number
of shares of our Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder (together
with its affiliates) may not exercise any portion of any Warrant to the extent that the holder would own more than 4.99% of the outstanding
Common Stock immediately after exercise, except that upon at least 61 days’ prior notice from the holder to us, the holder may increase
the amount of ownership of outstanding Common Stock after exercising the holder’s Warrants up to 9.99% of the number of shares of
our Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance
with the terms of the Warrants. No fractional shares of our Common Stock will be issued in connection with the exercise of a Warrant.
In lieu of fractional shares, we will round up to the next whole share.

Cashless Exercise

If, at the time a holder exercises its Warrants,
a registration statement registering the issuance of the shares of our Common Stock underlying the Warrants under the Securities Act is
not then effective or available and an exemption from registration under the Securities Act is not available for the issuance of such
shares, then in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate
exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number of shares of our
Common Stock determined according to a formula set forth in the Warrants.

Exercise Price

Each Warrant offered hereby will have an initial
exercise price per share equal to $ .

Warrant Agent

Pursuant to a warrant agency agreement between
us and West Coast Stock Transfer, Inc., as warrant agent, the Warrants will be issued in book-entry form and shall initially be represented
only by one or more global warrants deposited with the warrant agent, as custodian on behalf of The Depository Trust Company (“DTC”),
and registered in the name of Cede & Co., a nominee of DTC, or as otherwise directed by DTC.

Transferability

Subject to applicable laws, a Warrant may be transferred
at the option of the holder upon