Summary by Futu AI
On October 28, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic debilitating conditions, announced the successful closing of a registered direct offering. The offering involved the sale of 1,146,000 shares of BioVie's Class A common stock at a price of $2.83 per share, resulting in gross proceeds of approximately $3.24 million. After accounting for placement agent fees and offering expenses totaling around $419,254, the net proceeds are intended for working capital and general corporate purposes. ThinkEquity served as the sole placement agent for the offering. The shares were sold under a shelf registration statement on Form S-3, previously filed and declared effective by the U.S. Securities and Exchange Commission (SEC). BioVie's prospectus supplement and accompanying prospectus detailing the offering terms were filed with the SEC and are publicly available on its website.