BIVI - Why BioVie (BIVI) Shares Are Down 40% | Benzinga

BioVie Inc (NASDAQ:BIVI) shares are trading lower by 42% to $1.09 during Monday’s session. The company announced the pricing of its public offering, consisting of 21 million shares of common stock (or pre-funded warrants) and warrants for up to 10.5 million shares, at a combined price of $1.00 per share (or pre-funded warrant) and associated warrant.

The warrants have an exercise price of $1.50 per share and will be exercisable for five years. The offering is expected to yield approximately $21 million in gross proceeds for the company, before accounting for placement agent fees and offering expenses. The net proceeds will primarily be used for working capital and general corporate purposes.

The offering is set to close on March ...

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