Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
December 06 2022 - 06:03AM
Edgar (US Regulatory)
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-252386
PROSPECTUS SUPPLEMENT
(To Prospectus Supplement dated August 31, 2022
and Prospectus Dated February 2, 2021)
Up to $17,500,000
Common Stock
This prospectus supplement
amends and supplements the information in the prospectus, dated February 2, 2021, filed with the Securities and Exchange Commission as
a part of our registration statement on Form S-3 (File No. 333-252386), as previously supplemented by the prospectus supplement dated
August 31, 2022 and the prospectus supplement dated September 30, 2022 (collectively, the “Prior Prospectus”), relating
to the offer and sale of shares of our Class A common stock, par value $0.0001 per share (“common stock”), pursuant
to that certain Controlled Equity OfferingSM Sales
Agreement, dated August 31, 2022 (the “Sales Agreement”), with Cantor Fitzgerald & Co. (“Cantor”)
and B. Riley Securities, Inc. (“B. Riley Securities”). This prospectus supplement is not complete without, and may
only be delivered or utilized in connection with, the Prior Prospectus and any future amendments or supplements thereto. Through December
1, 2022, in accordance with the Sales Agreement, we have sold 1,934,871 shares of common stock for total net proceeds of approximately
$7.4 million after commissions and expenses of approximately $228,247.
On September 27, 2022, we became subject to General
Instruction I.B.6 of Form S-3, which limits the amounts that we may sell under the registration statement of which this prospectus supplement
and the Prior Prospectus are a part. After giving effect to these limitations and the current public float of our common stock, and after
giving effect to the terms of the Sales Agreement, we currently may offer and sell shares of our common stock having an aggregate offering
price of up to $17,500,000 under the Sales Agreement. If our public float increases such that we may sell additional amounts under the
Sales Agreement and the registration statement of which this prospectus supplement and the Prior Prospectus are a part, we will file another
prospectus supplement prior to making additional sales.
Our common stock is listed on the Nasdaq Capital Market
(“Nasdaq”) under the symbol “BIVI.” The aggregate market value of our common stock held by non-affiliates as of
December 1, 2022 pursuant to General Instruction I.B.6 of Form S-3 is approximately $56.7 million, which was calculated based on 7,049,071
outstanding shares of our common stock held by non-affiliates at a price of $8.05 per share, which was the closing price of our common
stock on December 1, 2022. As of the date hereof, we have issued 389,999 shares of common stock with a weighted average of approximately
$3.43 per share, pursuant to General Instruction I.B.6 of Form S-3 during the prior 12-month calendar period that ends on and includes
the date hereof. As a result of the limitations of General Instruction I.B.6 of Form S-3, and in accordance with the terms of the Sales
Agreement, we are registering the offer and sale of shares of our common stock having an aggregate offering price of up to $17,500,000
from time to time through Cantor and B. Riley Securities.
Investing in our common stock involves a high
degree of risk. Before buying any common stock, you should review carefully the risks and uncertainties described under the heading
“Risk Factors” beginning on page S-4 of the Prior Prospectus, in our most recent Annual Report on Form 10-K, and our
most recent Quarterly Reports on Form 10-Q, and any amendments thereto, which are incorporated by reference into the Prior
Prospectus, and under similar headings in the other documents that are filed after the date hereof and incorporated by reference
into this prospectus supplement and the Prior Prospectus.
Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the
accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Cantor |
B. Riley Securities |
The date of this prospectus supplement is December
6, 2022
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