Business
BioVie Inc. Announces Nasdaq Listing and Pricing of $15.7 Million Public Offering
SANTA MONICA, CA / ACCESSWIRE / September 17, 2020 / BioVie Inc. (NASDAQ:BIVI) ("BioVie" or "Company"), a clinical-stage company developing innovative drug
About this update from Biovie Inc.
[{"type":"text","content":"SANTA MONICA, CA / ACCESSWIRE / September 17, 2020 / BioVie Inc. (NASDAQ:BIVI) (\"BioVie\" or \"Company\"), a clinical-stage company developing innovative drug therapies for liver disease, today announced the pricing of an underwritten public offering of 1,565,200 shares of Class A common stock at a public offering price of $10.00 per share for aggregate gross proceeds of $15,652,000 prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 234,780 shares of common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on September 22, 2020, subject to satisfaction of customary closing conditions.The Company has received approval to list its Class A common stock on the Nasdaq Capital Market under the symbol ''BIVI,\" with trading expected to begin on September 18, 2020.The Company intends to use the net proceeds from the offering primarily to fund clinical trials of its lead product candidate BIV201 and for working capital and other general corporate purposes.ThinkEquity, a division of Fordham Financial Management, Inc., and Kingswood Capital Markets, division of Benchmark Investments, Inc. are acting as joint book-running managers for the offering.The Securities and Exchange Commission (\"SEC\") declared effective a registration statement on Form S-1 relating to these securities on September 17, 2020 and an additional registration statement on Form S-1 relating to the offering will be filed pursuant to Rule 462(b), which will become automatically effective upon filing. A final prospectus relating to this offering will be filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, when available, by contacting ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, telephone (877) 436-3673, email: [email protected]. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any stat...