BioVie Inc. Secures $12 Million Through Recent Offering

BioVie Inc. Completes $12 Million Public Offering

BioVie Inc. (NASDAQ: BIVI) has announced the successful closing of its previously declared public offering, securing $12 million in gross proceeds. This capital is essential for the company, which is focused on developing unique drug therapies aimed at treating chronic debilitating conditions, particularly liver disease and neurodegenerative disorders.

Details of the Offering

The public offering included 6 million units, each consisting of one share of common stock and one warrant. Alternatively, pre-funded units were available, which included a pre-funded warrant and a standard warrant. Units were offered at a price of $2.00 each, while pre-funded units were sold slightly below this, reflecting a nominal exercise price of just $0.0001 for the pre-funded warrants. The offering also allowed the underwriter to partially exercise its over-allotment option to purchase an additional 667,300 warrants.

Warrant Trading Information

The warrants associated with this offering have received approval for listing on the Nasdaq Capital Market and began trading under the symbol "BIVIW" recently. Each warrant is immediately exercisable for one share of common stock at an exercise price of $2.50, remaining valid for a span of five years post-issuance. Similarly, each pre-funded warrant can be exercised at any moment until fully utilized.

Funds Utilization

The funds acquired from this public offering are intended for working capital and various corporate initiatives. This financial strategy underlines the company’s commitment to advancing its research and development goals significantly.

ThinkEquity's Role in the Offering

ThinkEquity served as the sole book-running manager for this offering. Their involvement highlights the company's credibility and financial rigor as they navigate through public offerings.

About BioVie Inc.

Founded with the vision of addressing critical health challenges, BioVie Inc. strives to innovate in the pharmaceutical sector. Specifically, the company is working to develop therapies for debilitating conditions such as Alzheimer's and Parkinson's diseases, along with advanced liver disease. Their promising drug candidate, bezisterim, targets neuroinflammation—a significant hallmark in diseases like Alzheimer's and Parkinson's—while also considering the inflammatory aspects of Long COVID and related neurological symptoms. Through their Orphan drug candidate BIV201, which is currently under evaluation, the company seeks FDA approval to reduce decompensation in liver cirrhosis patients.

Contact Information for Investor and Media Inquiries

Investor Relations

For inquiries related to investor relations, please reach out to Bruce Mackle, Managing Director at LifeSci Advisors, LLC. You can contact him via email at bmackle@lifesciadvisors.com.

Media Relations

Melyssa Weible, Managing Partner at Elixir Health Public Relations, is available for media inquiries and can be reached at mweible@elixirhealthpr.com.

Frequently Asked Questions

What is the total amount raised by BioVie Inc.?

BioVie Inc. has successfully raised $12 million through its recent public offering.

What does each unit in the offering consist of?

Each unit in the offering comprises one share of common stock and one warrant, or a pre-funded unit that includes one pre-funded warrant and one warrant.

Where can the warrants trade?

The warrants from the offering are listed and trade on the Nasdaq Capital Market under the symbol "BIVIW".

What is the intended use of the funds raised?

The proceeds from the offering will be utilized for working capital and general corporate purposes.

Who acted as the manager for the offering?

ThinkEquity was the sole book-running manager for the public offering of BioVie Inc.

About The Author

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