Company: BIVIW
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001520138-25-000166
Chunk: 17

Company: BIOVIE INC.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 17
---
 between and including one-fifth to one-tenth of its present amount, as the case may be based on
the ratio for the reverse stock split as determined by the Board of Directors, and the additional paid-in capital account shall be credited
with the amount by which the stated capital is reduced. The per share net loss and net book value of our common stock will be retroactively
increased for each period because there will be fewer shares of our common stock outstanding.

Effect of Authorized but Unissued Shares

The reverse stock split will have the effect of significantly
increasing the number of authorized but unissued shares of common stock. The number of authorized shares of common stock will not be decreased
and will remain at 800,000,000. Because the number of outstanding shares will be reduced as a result of the reverse stock split, the number
of shares available for issuance will be increased.

The Board of Directors believes that we will need to
raise additional capital in the ordinary course of business. In addition, we may issue shares to acquire other companies or assets or
engage in business combination transactions. As of the date of this Proxy Statement, we have no specific plans, arrangements or understandings,
whether written or oral, with respect to the increase in shares available for issuance as a result of the reverse stock split.

Potential Anti-Takeover and Dilutive Effects

The purpose of the reverse stock split is not to establish
any barriers to a change of control or acquisition of the Company. However, because the number of authorized shares of common stock will
remain at 800,000,000, this proposal, if adopted and implemented, will result in a relative increase in the number of authorized but unissued
shares of our common stock as compared to the outstanding shares of our common stock and could, under certain circumstances, have an anti-takeover
effect. Shares of common stock that are authorized but unissued provide the Board of Directors with flexibility to effect, among other
transactions, public or private financings, mergers, acquisitions, stock dividends, stock splits and the granting of equity incentive
awards. However, these authorized but unissued shares may also be used by the Board of Directors, consistent with and subject to its fiduciary
duties, to deter future attempts to gain control of us or make such actions more expensive and less desirable. After implementation of
the proposed reverse stock split, the Board of Directors will continue to have authority to issue additional shares from time to time
without delay or