Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 228

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 228
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 shares of Common Stock, representing 5% of the October
23 Shares purchased at the closing of the October 23 Offering, for an aggregate purchase price of $100.00, at an exercise price of $28.125
per share, which is equal to 125% of the October 23 Share Offering Price.

The holders of the Placement Agent IV Warrants
may exercise the Placement Agent IV Warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares.
The holders of the Placement Agent IV Warrants may also exercise the Placement Agent IV 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 IV Warrants. The Placement
Agent IV Warrants are subject to anti-dilution adjustments for stock dividends, stock splits, and reverse stock splits. Pursuant to the
terms of the Placement Agent IV Warrants, the holders of the Placement Agent IV Warrants are entitled to piggyback registration rights
if the Company proposes to file a new registration statement under the Securities Act, subject to certain limitations.

<div align='center'>II-4</div>

Placement Agent V Warrants Issued in Connection with Offering on October 28, 2024

On October 28, 2024, the Company entered into
the October 28, 2024 PAA with ThinkEquity LLC, as the placement agent, in connection with the issuance and sale directly to various investors
the October 28 Investors of up to 114,600 shares of the Common Stock, at a public offering price to the October 28 Investors of $28.30
per share.

In connection with the October 28 Offering, the
Company issued the Placement Agent V Warrants, exercisable to purchase 5,730 shares of Common Stock, representing 5% of the October 28
Shares purchased at the closing of the October 28 Offering, for an aggregate purchase price of $100.00, at an exercise price of $35.375
per share, which is equal to 125% of the October 28 Share Offering Price.

The holders of the Placement Agent V Warrants
may exercise the Placement Agent V Warrants by making a cash payment equal to the exercise price multiplied by the quantity of shares.
The holders of the Placement Agent V Warrants may also exercise the Placement Agent V Warrants on a cashless or “net issuance”
basis by receiving a net number of shares calculated