BioVie, an early stage biotech developing therapies for cirrhosis, revised terms for its upcoming IPO on Thursday.
The Los Angeles, CA-based company now plans to raise $15 million by offering 1.3 million shares at a price of $11.44, the as-converted last close of its shares on the OTC (BIVI). The company had previously filed to offer 1.3 million shares at a price of $11.88. Since its last filing, BioVie issued additional shares, causing its fully diluted market value to increase to $77 million. It previously would have commanded a fully diluted market value of $63 million.
BioVie was founded in 2013 and plans to list on the Nasdaq under the symbol BIVI. ThinkEquity is the sole bookrunner on the deal. It is expected to price during the week of August 12, 2019.
