BioVie, a biopharmaceutical company, reported significant financial activities and equity transactions in its annual report for the year ended June 30, 2024. The company recorded an amortization expense of $229,377 for both 2024 and 2023, with future estimated amortization expenses outlined for the following years. BioVie entered into a securities purchase agreement with Acuitas, its largest stockholder, resulting in a deemed dividend of $886,423 due to a down round feature adjustment. The company secured a Loan Agreement with Avenue for up to $20 million, of which $15 million was funded. The loan bears interest at an annual rate of the greater of 7.00% plus the prime rate or 10.75%, with the prime rate at 8.50% as of June 30, 2024. The Loan Agreement includes a conversion option and issuance of Avenue Warrants. BioVie...Show More

BioVie, a biopharmaceutical company, reported significant financial activities and equity transactions in its annual report for the year ended June 30, 2024. The company recorded an amortization expense of $229,377 for both 2024 and 2023, with future estimated amortization expenses outlined for the following years. BioVie entered into a securities purchase agreement with Acuitas, its largest stockholder, resulting in a deemed dividend of $886,423 due to a down round feature adjustment. The company secured a Loan Agreement with Avenue for up to $20 million, of which $15 million was funded. The loan bears interest at an annual rate of the greater of 7.00% plus the prime rate or 10.75%, with the prime rate at 8.50% as of June 30, 2024. The Loan Agreement includes a conversion option and issuance of Avenue Warrants. BioVie's total interest expense for the year ended June 30, 2024, was approximately $2.9 million, a decrease from $4.3 million in the previous year. The company also engaged in equity transactions, including the issuance of common stock for cash through a Sales Agreement and a public offering, resulting in net proceeds of approximately $9.3 million and $18.5 million, respectively. Additionally, BioVie issued common stock for services and executed various stock options and warrants activities. The company's future amortization expenses and accretion of Loan Premium are detailed, along with fair value measurements of financial assets and derivative liabilities. BioVie's equity transactions included the issuance of common stock, modification of restricted stock units and options, and the exercise of stock options and warrants.