Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 146

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 146
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 of raising or maintaining the market price of our
securities or preventing or retarding a decline in the market price of our securities. As a result, the price of our securities in the
open market may be higher than it would otherwise be in the absence of these transactions. Neither we nor the underwriters make any representation
or prediction as to the effect that the transactions described above may have on the price of our securities. These transactions may be
affected on The Nasdaq Capital Market, in the over-the-counter market or otherwise and, if commenced, may be discontinued at any time.

Passive Market Making

In connection with this offering, underwriters
and selling group members may engage in passive market making transactions in our securities on The Nasdaq Capital Market in accordance
with Rule 103 of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of the securities and
extending through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest
independent bid of that security. However, if all independent bids are lowered below the passive market maker’s bid, then that bid
must then be lowered when specified purchase limits are exceeded.

Other Relationships

From time to time, the underwriters and/or its
affiliates may in the future provide, various investment banking and other financial services for us for which they may receive customary
fees. In the course of their businesses, the placement and their affiliates may actively trade our securities or loans for their own account
or for the accounts of customers, and, accordingly, the underwriters and their affiliates may at any time hold long or short positions
in such securities or loans. Except for services provided in connection with this offering and described below, the underwriters have
not provided any investment banking or other financial services to us during the 180-day period preceding the date of this offering circular.

Selling Restrictions

Other than in the United States, no action has
been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction
where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly,
nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities
be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and
regulations of that jurisdiction. Persons into