Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 132

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 132
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 of Common Stock, all of which 
 are exercisable within 60 days of June 30, 2025.                        |

| (7) | Includes warrants to purchase 72,728 shares of Common Stock, and options                                                                   
 to purchase 650 shares of Common Stock, all of which are exercisable within 60 days of June 30, 2025. All shares held of record by Acuitas 
 Group Holdings, LLC, a limited liability company 100% owned by Terren Peizer, and as which Mr. Peizer may be deemed to beneficially own    
 or control. Mr. Peizer disclaims beneficial of any such securities.                                                                        |

<div align='center'>72

Description of
Securities</div>

The following description is a summary of some of the terms of our securities, our organizational documents and Nevada law. The descriptions in this prospectus of our securities and our organizational documents do not purport to be complete and are subject to, and qualified in their entirety by reference to, our organizational documents, copies of which have been filed as exhibits to this prospectus.

General

As of June 30, 2025, our authorized capital stock
consists of 800,000,000 shares of Class A Common Stock, par value $0.0001 per share (the “Common Stock”), of which 1,862,922
were issued and 1,860,086 shares were outstanding; and 10,000,000 shares of preferred stock, par value $0.001 per share, none of which
were issued and outstanding. The authorized and unissued shares of Common Stock and preferred stock are available for issuance without
further action by our stockholders, unless such action is required by applicable law or the rules of any stock exchange on which our securities
may be listed. Unless approval of our stockholders is so required, our board of directors will not seek stockholder approval for the issuance
and sale of our Common Stock.

Common Stock

Each holder of Common Stock is entitled to one
vote for each share of Common Stock held on all matters submitted to a vote of the stockholders, including the election of directors.
Our Articles of Incorporation and Bylaws do not provide for cumulative voting rights. Subject to preferences that may be applicable to
any then outstanding preferred stock, the holders of our outstanding shares of Common Stock are entitled to receive dividends, if any,
as may be declared from time to time by our board of directors out of legally available funds