Summary by Moomoo AI
On October 22, 2024, BioVie Inc., a clinical-stage company focused on developing treatments for chronic debilitating conditions, announced the successful closing of a registered direct offering and a concurrent private placement. The offering involved the sale of 4,443,000 shares of BioVie's Class A common stock at $1.50 per share, alongside warrants to purchase an equivalent number of shares at $1.37 per share. The gross proceeds from the offering amounted to approximately $6.66 million before deductions for placement agent fees and other expenses. BioVie intends to allocate the net proceeds towards working capital and general corporate purposes. Additionally, the company notified Acuitas Group Holdings, LLC of an adjustment to the exercise price of a warrant issued in July 2022, reducing it from $1.53 to $1.37, aligning with the exercise price of the warrants in the recent private placement. The shares and warrants offered were pursuant to a shelf registration statement filed with the SEC, and the warrants were offered in a private placement not registered under the Securities Act.
