BioVie Inc. announced on October 22, 2024, the closing of its previously announced registered direct offering of 4,443,000 shares of common stock. The shares were priced at $1.50 each, generating gross proceeds of $6,664,500.
In a concurrent private placement, the company also issued unregistered warrants to purchase up to 4,443,000 shares of common stock. These warrants are exercisable at $1.37 per share, beginning six months after issuance and expiring five years later.
The gross proceeds from these offerings, before deducting placement agent fees and expenses, totaled $6,664,500. BioVie intends to use the net proceeds primarily for working capital and general corporate purposes.
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