BioVie Inc. announced on October 21, 2024, the pricing of a registered direct offering of 4,443,000 shares of its common stock at $1.50 per share. This offering is expected to generate gross proceeds of $6,664,500 before deducting fees and expenses.
Concurrently, the company agreed to issue unregistered warrants to purchase up to 4,443,000 shares of common stock in a private placement. These warrants will have an exercise price of $1.37 per share, become exercisable six months after issuance, and expire five years later.
The net proceeds from these offerings are designated for working capital and general corporate purposes. The closing of both the registered direct offering and the concurrent private placement is anticipated around October 22, 2024.
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