Summary by Moomoo AI
BioVie announced a best efforts public offering of 1,960,800 shares of common stock and warrants at $1.53 per share on September 23, 2024. The offering includes common stock purchase warrants exercisable at $1.53 per share and pre-funded warrants at $1.5299 with a $0.0001 exercise price. ThinkEquity is acting as the sole placement agent.The company expects to raise approximately $3 million in gross proceeds before deducting placement agent fees and offering expenses. The offering is expected to close on September 25, 2024. The placement agent will receive warrants to purchase 98,040 shares at $1.9125 per share, representing 5% of the shares sold.The securities are being offered through the company's effective S-3 registration statement. BioVie intends to use the net proceeds primarily for working capital and general corporate purposes. The company develops innovative drug therapies for neurological disorders and advanced liver disease.
