BioVie Inc. Announces Closing of Public Offering

CARSON CITY, Nev., Sept. 25, 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 closing of a previously announced best efforts public offering of 1,360,800 shares of its common stock, pre-funded warrants to purchase 600,000 shares of its common stock (“Pre-funded Warrants”) and warrants to purchase up to 1,960,800 shares of common stock (the "Common Warrants") at a combined public offering price of $1.53 per share (or Pre-funded Warrant) and associated Common Warrant. The Common Warrants have an exercise price of $1.53 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance. The gross proceeds to the Company from the offering are approximately $3,000,000, before deducting placement agent fees and offering expenses. The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.