On October 21, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic conditions and neurological disorders, announced a registered direct offering and concurrent private placement. The offering involves the sale of 4,443,000 shares of Class A common stock at $1.50 per share, with total gross proceeds expected to be approximately $6.6 million before fees and expenses. Alongside the stock offering, BioVie will issue unregistered warrants to investors, allowing them to purchase additional shares at $1.37 each, exercisable six months post-issuance and expiring five years after the initial exercise date. Additionally, a warrant was issued to the placement agent, ThinkEquity LLC, for the purchase of 222,150 shares at $1.875 per share. The offering is anticipated to close on October 22, 2024, subject to customary closing conditions...Show More

On October 21, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic conditions and neurological disorders, announced a registered direct offering and concurrent private placement. The offering involves the sale of 4,443,000 shares of Class A common stock at $1.50 per share, with total gross proceeds expected to be approximately $6.6 million before fees and expenses. Alongside the stock offering, BioVie will issue unregistered warrants to investors, allowing them to purchase additional shares at $1.37 each, exercisable six months post-issuance and expiring five years after the initial exercise date. Additionally, a warrant was issued to the placement agent, ThinkEquity LLC, for the purchase of 222,150 shares at $1.875 per share. The offering is anticipated to close on October 22, 2024, subject to customary closing conditions. BioVie plans to use the net proceeds primarily for working capital and general corporate purposes. The shares and warrants were offered under a shelf registration statement on Form S-3, previously filed and declared effective by the SEC. The company also released a press statement on the same day detailing the offering terms and intended use of proceeds.