BioVie Prices $21M Public Offering, Includes Shares And Warrants At $1 Each
Portfolio Pulse from Benzinga Newsdesk
BioVie Inc. (NASDAQ:BIVI), a clinical-stage company focused on liver disease and neurological disorders, announced a $21M public offering at $1 per share, including 21,000,000 shares or pre-funded warrants and warrants for up to 10,500,000 shares at $1.50 each, exercisable for five years.
March 04, 2024 | 7:30 am
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BioVie Inc. announces a $21M public offering at $1 per share, including shares or pre-funded warrants and additional warrants exercisable at $1.50 each for five years.
The announcement of a public offering at $1 per share, which is typically below the current trading price, can lead to a dilution of existing shares and may put downward pressure on the stock price in the short term. The inclusion of warrants exercisable at $1.50 could further imply expectations of future stock price increases but also adds to the dilution risk.
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