BioVie Inc., a Nevada corporation entered into a securities purchase agreement with returning investor Acuitas Group Holdings, LLC to issue an aggregate of 3,636,364 shares of the companyÆs Class A common stock, at a price of $1.65 per share for gross proceeds of $6 million on July 15, 2022. The company also issued a warrant to purchase 7,272,728 shares of Common Stock at an exercise price of $1.82, with a term of exercise of five years. The company expects the transaction to close on or about August 15, 2022, subject to the satisfaction of customary closing conditions.

The Securities were sold pursuant to the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation D promulgated thereunder. The investor beneficially own 30,438,938 shares of common stock, which includes 7,272,728 shares of common stock issuable upon exercise of the warrant, representing approximately 84.8% of the outstanding shares of common stock immediately following the closing.