Summary by Moomoo AI
On January 19, 2024, BioVie Inc., a Nevada-based biopharmaceutical company, announced the filing of a prospectus supplement in connection with its Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. The agreement, dated August 31, 2022, allows BioVie to offer and sell shares of its Class A common stock, with an aggregate offering price of up to $25 million. As of the same date, BioVie has issued over 8 million shares under this agreement, resulting in net proceeds of $59.4 million after deducting commissions and expenses. The shares are being offered pursuant to a shelf registration statement filed on January 22, 2021, and declared effective on February 2, 2021, which is set to expire on February 2, 2024. The current sales are made under a new effective registration statement filed on August 18, 2023, and declared effective on August 28, 2023. Additionally, the legal opinion of Sherman & Howard L.L.C. regarding the validity of the shares to be sold has been filed with the SEC as part of the company's compliance documentation.