BioVie, an early stage biotech developing therapies for cirrhosis, filed an amended S-1 on Wednesday with the SEC to raise up to $15 million, based on its registered offering of 1.7 million units at $8.75, the as-converted last close of its stock on the OTCQB (BIVI). At that price, it would command a post-offering market cap of $94 million. The company added warrants in the latest filing; the units consist of one share and one-half warrant, with full warrants exercisable at 125% of the offer price. Because the deal was re-launched as a unit offering, Renaissance Capital is no longer including BioVie in our IPO stats.
BioVie had previously planned to raise $15 million in August, when its shares traded at $11.44 ($77 million market cap), but postponed the offering.
The Los Angeles, CA-based company was founded in 2013 and plans to list on the Nasdaq under the symbol BIVI. ThinkEquity is the sole bookrunner on the deal.
