Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 136

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 136
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, until they exercise their Warrants.

Anti-Takeover Effects of Nevada Law

Business Combinations

The “business combination” provisions
of Sections 78.411 to 78.444, inclusive, of the Nevada Revised Statutes (“NRS”) generally prohibit a Nevada corporation with
at least 200 stockholders from engaging in various “combination” transactions with any interested stockholder for a period
of two years after the date of the transaction in which the person became an interested stockholder, unless the transaction is approved
by the board of directors prior to the date the interested stockholder obtained such status or the combination is approved by the board
of directors and thereafter is approved at a meeting of the stockholders by the affirmative vote of stockholders representing at least
60% of the outstanding voting power held by disinterested stockholders, such prohibition extends beyond the expiration of the two-year
period, unless:

| · | the combination was approved by the board of directors prior to the person becoming an interested stockholder                               
 or the transaction by which the person first became an interested stockholder was approved by the board of directors before the person      
 became an interested stockholder or the combination is later approved by a majority of the voting power held by disinterested stockholders; 
 or                                                                                                                                          |

| · | the combination meets specified statutory requirements. |

A “combination” is generally defined
to include mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in one transaction
or a series of transactions, with an “interested stockholder” having: (a) an aggregate market value equal to 5% or more of
the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to 5% or more of the aggregate market
value of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income of the corporation, and (d) certain
other transactions with an interested stockholder or an affiliate or associate of an interested stockholder.

In general, an “interested stockholder”
is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation’s voting
stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts
to acquire our Company even though such a transaction may offer our stockholders the opportunity to sell their stock at a price above