BioVie (BIVI) shares were up 15% in recent trading Monday after the company priced a $6.7 million registered direct offering of common shares and a concurrent private placement of warrants to buy shares.
The company said it is selling 4.4 million shares at $1.50 a piece in the direct offering.
The private placement includes warrants to purchase 4.4 million shares at $1.37 per share, BioVie said. Warrants can be exercised six months after issue and expire after five years.
The biotechnology company said it will use the net proceeds for working capital and general corporate purposes. It expects to close the offering and private placement on or about Tuesday.
Price: 2.70, Change: +0.35, Percent Change: +14.89
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