Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 39

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 39
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placement warrants.

In connection with the offering, the Company issued
warrants to the placement agent, exercisable to purchase 22,215 shares of Common Stock, representing 5% of the shares purchased at the
closing of the offering, for an aggregate purchase price of $100.00, at an exercise price of $18.75 per share, which is equal to 125%
of the public offering price.

The holders of the placement agent warrants may exercise
the placement agent warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares. The holders of
the placement agent warrants may also exercise the placement agent warrants on a cashless or “net issuance” basis by receiving
a net number of shares calculated pursuant to the formula set forth in the placement agent warrants. The placement agent warrants are
subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the terms of the placement
agent warrants, the holders are entitled to piggyback registration rights if the Company proposes to file a new registration statement
under the Securities Act, subject to certain limitations.

Private Placement Warrants and Placement Agent Warrants Issued in Connection with Offering on October 23, 2024

On October 23, 2024, the Company entered into a placement
agency agreement with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale of up to 266,700 shares of the
Common Stock, at a public offering price of $22.50 per share.

In a concurrent private placement, pursuant to the
placement agency agreement, the Company issued unregistered private placement warrants to purchase 266,700 shares of Common Stock, with
each private placement warrant exercisable for one share of Common Stock at an exercise price of $21.20 per share. Each private placement
warrant is exercisable beginning six months from the date of issuance and will expire five years following the initial exercise date.

The holders of the private placement warrants may
exercise the private placement warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares. The
holders of the private placement warrants may also exercise the private placement warrants on a cashless or “net issuance”
basis by receiving a net number of shares calculated pursuant to the formula set forth in the private placement warrants. The private
placement warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the
terms