Summary by Moomoo AI
BioVie announced the pricing of a registered direct offering on October 28, 2024, planning to sell 1,146,000 shares of common stock at $2.83 per share. The offering is expected to generate gross proceeds of approximately $3.2 million before deducting placement agent fees and other expenses. ThinkEquity LLC serves as the sole placement agent for the transaction.The company issued a warrant to the placement agent to purchase 57,300 shares at an exercise price of $3.5375 per share, representing 5% of the shares purchased. The offering is expected to close on October 29, 2024, with proceeds intended for working capital and general corporate purposes.The securities are being offered through a shelf registration statement on Form S-3 filed with the SEC. The company must file a registration statement within 30 days following the closing to register the resale of the warrant shares held by investors.
