06:11 AM EDT, 09/24/2024 (MT Newswires) -- BioVie ( BIVI ) said late Monday that it has priced an offering of 1.96 million shares and warrants at a combined price of $1.53 per share and associated warrant, with a target gross proceeds of $3 million.

The company said the warrants to purchase up to 1.96 million shares will have an exercise price of $1.53 per share. The warrants will be immediately exercisable upon issuance for five years from the date of issuance.

The company said it will sell the securities in the offering and plans to use the net proceeds for working capital and general corporate purposes.

The sale is slated to be completed on Wednesday.

Shares of the company were down 51% in recent Tuesday premarket activity.

Price: 1.3700, Change: -1.43, Percent Change: -51.07