Micro-cap cirrhosis biotech BioVie revises terms ahead of $15 million IPO

Shutterstock photo

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.

The article Micro-cap cirrhosis biotech BioVie revises terms ahead of $15 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs
Referenced Symbols: BIVI

More from Renaissance Capital


Renaissance Capital

Renaissance Capital


Research Brokers before you trade

Want to trade FX?