Summary by Moomoo AI
BioVie Inc., a clinical-stage company focusing on the development of drug therapies for liver disease and neurological disorders, has announced the offering of 1,360,800 shares of its Class A common stock at a price of $1.53 per share. Additionally, the company is offering pre-funded warrants to purchase up to 600,000 shares of common stock and warrants to purchase up to 1,960,800 shares of common stock. The pre-funded warrants, exercisable at $0.0001 per share, cater to purchasers who would otherwise own more than 4.99% of the issued and outstanding common stock post-offering. The common warrants, exercisable at $1.53 per share, will be immediately exercisable and expire five years from the issuance date. ThinkEquity LLC acts as the exclusive placement agent for the offering. The placement agent will use reasonable best efforts to arrange for the sale of the securities, but is not obligated to sell any specific number or dollar amount. The offering is expected to close on or about September 25, 2024, subject to customary closing conditions.