BioVie Inc. Announces Pricing of Public Offering

CARSON CITY, Nev., March 04, 2024 (GLOBE NEWSWIRE) -- BioVie Inc. (NASDAQ: BIVI), (“BioVie” or the “Company”), a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including liver disease and neurological and neuro-degenerative disorders, today announced the pricing of its best efforts public offering of 21,000,000 shares of its common stock (or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) and warrants to purchase up to 10,500,000 shares of common stock at a combined offering price of $1.00 per share (or Pre-funded Warrant) and associated warrant. The warrants will have an exercise price of $1.50 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. The gross proceeds to the Company from the offering are expected to be approximately $21 million, before deducting placement agent fees and offering expenses. The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes. All of the shares of common stock (or Pre-funded Warrants) and associated warrants are being offered by the Company. The offering is expected to close on March 6, 2024, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole placement agent for the offering.

The securities were offered and will be sold pursuant to a shelf registration statement on Form S-3 (File No. 333-274083), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 18, 2023 and declared effective on August 28, 2023. The offering will be made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC and will be available on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.