BioVie Inc. announced on October 23, 2024, the pricing of a new registered direct offering of 2,667,000 shares of its common stock at $2.25 per share. This offering is expected to yield total gross proceeds of $6,000,750 before deducting fees and expenses.
In a concurrent private placement, the company also agreed to issue unregistered warrants to purchase up to 2,667,000 shares of common stock. These warrants will have an exercise price of $2.12 per share, become exercisable six months from issuance, and expire five years later.
The net proceeds from these offerings are intended for working capital and general corporate purposes. The closing of the registered direct offering and concurrent private placement is expected around October 24, 2024.
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