BioVie Inc. Enters into Placement Agent Agreement for Public Offering

On October 21, 2024, BioVie Inc. disclosed in an 8-K filing with the Securities and Exchange Commission (SEC) that the Company has entered into a placement agent agreement with ThinkEquity LLC. The agreement pertains to the issuance and sale of up to 4,443,000 shares of the Company’s Class A common stock, at a public offering price of $1.50 per share.

Concurrently, a private placement agreement was also established, where the Company agreed to issue unregistered warrants to purchase 4,443,000 shares of Common Stock at an exercise price of $1.37 per share. Additionally, a warrant was issued to the Placement Agent, exercisable to purchase 222,150 shares of Common Stock.

The gross proceeds from the Offering are anticipated to be around $6,664,500, with the Closing of the Offering expected on October 22, 2024. In line with the terms of the agreement, the Company is obliged to file a registration statement for the resale of the Warrant Shares with the SEC within 30 days after the completion of the Private Placement.

Moreover, the disclosures have been made regarding representations, warranties, and agreements by the Company, conditions to closing, and indemnification obligations for the parties involved. The Offering was made under the Company’s effective registration statement on Form S-3 and a related prospectus and prospectus supplement filed with the SEC.

The Company has disclaimed any intent or obligation to update or revise forward-looking statements, citing potential differences in actual results or developments. Investors are advised to consider risks and uncertainties outlined in the Company’s prospectus supplement relating to this Offering.

The full details of these agreements, including forms of the Warrant, Placement Agent’s Warrant, and the Agreement, have been outlined in the 8-K filing. The Company expects these agreements to significantly impact its financial standing and market position moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BioVie’s 8K filing here.

BioVie Company Profile

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.