Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 177

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 177
---
 9. | Equity Transactions |

Issuance of common stock for cash

On August 31, 2022, the Company entered into a Controlled
Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. and B. Riley Securities, Inc. (collectively,
the “Agents”), pursuant to which the Company may issue and sell from time-to-time shares of the Company’s common stock
through the Agents, subject to the terms and conditions of the Sales Agreement. On April 6, 2023, the Company and B. Riley Securities,
Inc. mutually agreed to terminate B. Riley Securities, Inc.’s role as a sales agent under the Sales Agreement. During the year ended
June 30, 2024, the Company sold 333,749 shares of common stock under the Sales Agreement for total net proceeds of approximately $9.3
million after deducting 3% commissions and expenses of approximately $377,000. During the year ended June 30, 2023, the Company sold 753,925
shares of common stock under the Sales Agreement for total net proceeds of approximately $49.5 million after 3% commissions and expenses
of approximately $2.0 million.

On March 6, 2024, the Company closed a best efforts
public offering (the “Offering”) of 1,500,000 shares (the “Shares”) of its common stock, par value $0.001 per
share (the “Common Stock”), pre-funded warrants (the “Pre-funded Warrants”) to purchase 600,000 shares of Common
Stock, and warrants to purchase up to 1,050,000 shares of Common Stock (the “Common Warrants”) at a combined public offering
price of $10.00 per Share, or Pre-funded Warrant, and the associated Common Warrant. The Common Warrants have an exercise price of $15.00 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance.The gross proceeds to the Company from the Offering were approximately $21.0 million, before deducting placement
agent fees and offering expenses of approximately $2.5 million, resulting in net proceeds of approximately $18.5 million. Additionally,
upon closing the Company issued the placement agent warrants (“Placement Agent’s warrants”) to purchase 105,000 shares
of Common Stock exercisable at a per share price of $12.50, which was equal to 125