BioVie Inc. Announces Pricing of Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules

CARSON CITY, Nev., Oct. 23, 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 a registered direct offering of 2,667,000 shares of its common stock priced at-the-market under Nasdaq rules at a price of $2.25 per share, resulting in total gross proceeds of $6,000,750, before deducting the placement agent's fees and offering expenses.

The Company also agreed to issue to the investors unregistered warrants to purchase up to 2,667,000 shares of common stock in a concurrent private placement. The warrants will have an exercise price of $2.12 per share of common stock, will be exercisable beginning six months from the date of issuance and will expire five years following the initial exercise date.

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 and associated warrants are being offered by the Company.

The registered direct offering and concurrent private placement are expected to close on or about October 24, 2024, subject to the 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, 41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or