BioVie Inc. Announces Closing of Registered Direct Offering and Concurrent Private Placement

Core Viewpoint - BioVie Inc. has successfully closed a registered direct offering of 4,443,000 shares of common stock at a price of $1.50 per share, raising gross proceeds of $6,664,500 for working capital and general corporate purposes [1][2]. Group 1: Offering Details - The registered direct offering involved the sale of common stock priced at $1.50 per share, with a total of 4,443,000 shares offered [1]. - In a concurrent private placement, the company issued unregistered warrants to purchase up to 4,443,000 shares at an exercise price of $1.37 per share, which will be exercisable six months after issuance and expire five years later [2]. - The gross proceeds from the offering are $6,664,500, before deducting placement agent fees and offering expenses [2]. Group 2: Company Overview - BioVie Inc. is a clinical-stage company focused on developing innovative drug therapies for chronic debilitating conditions, including neurological disorders such as Alzheimer's and Parkinson's diseases, as well as advanced liver disease [6]. - The company's drug candidate, bezisterim, targets neuroinflammation and insulin resistance, which are significant factors in neurodegenerative diseases [6]. - BioVie’s orphan drug candidate BIV201, which has FDA Fast Track status, is being evaluated for its effectiveness in reducing further decompensation in patients with liver cirrhosis and ascites [6].