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BioVie | 8-K: Current report

SEC ·  Sep 26, 2024 05:05

Summary by Moomoo AI

On September 25, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic debilitating conditions, announced the successful closing of its public offering. The offering consisted of 1,360,800 shares of Class A common stock, pre-funded warrants to purchase 600,000 shares, and warrants to purchase an additional 1,960,800 shares, all at a price of $1.53 per share or warrant. The gross proceeds from the offering amounted to approximately $3 million, before accounting for placement agent fees and offering expenses totaling around $210,000. The net proceeds are intended for working capital and general corporate purposes. Concurrently, BioVie notified Acuitas Group Holdings, LLC of an adjustment to the exercise price of a warrant issued in 2022, reducing it from $10.00 to $1.53, matching the price per share in the recent...Show More
On September 25, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic debilitating conditions, announced the successful closing of its public offering. The offering consisted of 1,360,800 shares of Class A common stock, pre-funded warrants to purchase 600,000 shares, and warrants to purchase an additional 1,960,800 shares, all at a price of $1.53 per share or warrant. The gross proceeds from the offering amounted to approximately $3 million, before accounting for placement agent fees and offering expenses totaling around $210,000. The net proceeds are intended for working capital and general corporate purposes. Concurrently, BioVie notified Acuitas Group Holdings, LLC of an adjustment to the exercise price of a warrant issued in 2022, reducing it from $10.00 to $1.53, matching the price per share in the recent offering. The company's forward-looking statements indicate plans for the use of proceeds and ongoing clinical studies for their drug candidates, including NE3107 for neurodegenerative diseases and BIV201 for liver disease. The offering was managed by ThinkEquity as the sole placement agent and was made under a shelf registration statement filed with the SEC.

This announcement is a separate document:

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