Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 23

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 23
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, assumptions made with
respect to the industry in which we currently or, in the future, expect to operate, general economic conditions and our future revenue
and expenditure estimates. Our management will have broad discretion in the application of the net proceeds from this offering and could
use them for purposes other than those contemplated at the time of this offering. Our stockholders may not agree with the manner in which
our management chooses to allocate and spend the net proceeds. Moreover, our management may use the net proceeds for corporate purposes
that may not positively impact our results of operations or increase the market value of our securities.

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<div align='center'>Dividend Policy</div>

We have never declared or paid dividends on our Common
Stock and we do not anticipate paying any cash dividends on our Common Stock in the foreseeable future. Payment of cash dividends, if
any, in the future will be at the discretion of our board of directors and will depend on applicable law and then-existing conditions,
including our financial condition, operating results, contractual restrictions, capital requirements, business prospects and other factors
our board of directors may deem relevant. We currently intend to retain all available funds and any future earnings to fund the development
and growth of our business.

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<div align='center'>SECURITIES MARKET INFORMATION</div>

Market Information

Our Common Stock is listed on Nasdaq under the symbol “BIVI”
and the Warrants are listed on Nasdaq under the symbol “BIVIW.” On October 2, 2025, the last reported sales price of
our Common Stock on Nasdaq was $2.00 per share and the last reported sales price of our Warrants on Nasdaq was $2.00 per share.

Holders

As of September 30, 2025, there were 76 holders of record of our
Common Stock and 1 holder of record of our Warrants.

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<div align='center'>Description of Securities</div>

The following description is a summary of some of the terms of our securities, our organizational documents and Nevada law. The descriptions in this prospectus of our securities and our organizational documents do not purport to be complete and are subject to, and qualified in their entirety by reference to, our organizational documents, copies of which have been filed as exhibits to this prospectus.

General

As of September 30, 2025, our authorized capital stock
consists of 800,000,000 shares of Class A Common Stock