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NEWS
BioVie Inc. Announces Pricing of Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules
BioVie Inc (NASDAQ: BIVI) announced the pricing of a registered direct offering of 2,667,000 shares of common stock at $2.25 per share, raising gross proceeds of $6,000,750. The company will also issue unregistered warrants to purchase up to 2,667,000 shares in a concurrent private placement, with an exercise price of $2.12 per share. The warrants will be exercisable after six months and expire five years after the initial exercise date. The proceeds will be used for working capital and general corporate purposes. ThinkEquity is serving as the sole placement agent, with the offering expected to close around October 24, 2024.
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PonchoThePatriot : What does this mean
Jaguar8 OP PonchoThePatriot : Dilution
Moooolah Jaguar8 OP : Am I understanding it correctly that the company is issuing more shares at a lower price?
Jaguar8 OP Moooolah : Yes they are!
corbotron : Holy Moly these guys are unbelievable, more shareholder dilution for cash they will just give to themselves as bonuses
Jaguar8 OP corbotron : Yup
Jaguar8 OP : They pumped this because they plan offering so it won’t fall below 1 dollar per share
corbotron Jaguar8 OP : yea absolutely absurd they can do this, it's all pretty cringe. I don't see how regulators aren't opening an investigation into this garbage