Insider Purchase: Cuong V Do Acquires 5,000 BIVI Shares and Warrants

Rhea-AI Filing Summary

Cuong V Do, President & CEO and director of BioVie, purchased securities in the company's public offering. On 08/07/2025 he acquired 5,000 shares of common stock and received accompanying warrants covering 5,000 shares; the combined purchase price per share and warrant was $2.00 in connection with the offering that closed on 08/11/2025.

After the reported transactions the filing shows the reporting person beneficially owning 9,992 common shares and 5,050 warrants indirectly. The securities are held in the name of Do & Rickles Investments LLC.

Positive

• Insider participation in the public offering: purchase of 5,000 common shares and accompanying warrants
• Securities held indirectly in the name of Do & Rickles Investments LLC, which is explicitly disclosed

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchased 5,000 shares and 5,000 warrants at $2.00 combined price; holdings remain indirect via an LLC.

The filing documents a purchase of 5,000 common shares and accompanying warrants exercisable for 5,000 shares, acquired on 08/07/2025 at a combined per-unit price of $2.00 tied to the public offering that closed 08/11/2025. Post-transaction beneficial ownership is reported as 9,992 common shares and 5,050 warrants, held indirectly through Do & Rickles Investments LLC. This is a straightforward Section 16 disclosure showing executive participation in the offering; the disclosure includes exercise terms for the warrants ($2.50 exercise price, exercisable 08/11/2025 through 08/11/2030).

Corporate Governance Expert

TL;DR: Report is routine Section 16 disclosure of an executive purchase and indirect holdings through an entity.

The Form 4 identifies the reporting person as both an officer (President & CEO) and director and reports purchases made pursuant to the issuer's public offering. Securities are held in the name of Do & Rickles Investments LLC, which the filer discloses as the indirect owner. The filing includes required details: transaction date, amounts acquired, post-transaction holdings and warrant exercise window and price. The filing appears to meet standard disclosure requirements for insider transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DO CUONG V

(Last) (First) (Middle)

C/O BIOVIE INC.

680 W NYE LANE STE 201

(Street)

CARSON CITY NV 89703

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BIOVIE INC. [ BIVI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/07/2025		P		5,000	A	(1)	9,992	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants (right to buy)	$2.5	08/07/2025		P		5,000		08/11/2025	08/11/2030	Common Stock	5,000	(1)	5,050	I	See Footnote(2)

Explanation of Responses:

1. The reported securities were purchased by the reporting person at a combined purchase price for a share of common stock and accompanying warrant equal to $2.00 in connection with the issuer's public offering that closed on August 11, 2025.

2. Securities are held in the name of Do & Rickles Investments LLC.

	/s/ Cuong V Do	08/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What securities did Cuong V Do acquire according to the Form 4 for BioVie (BIVI)?

The filing reports a purchase of 5,000 shares of common stock and accompanying warrants to buy 5,000 shares.

When were the transactions reported on the BioVie Form 4 dated 08/07/2025?

The transactions are reported with a transaction date of 08/07/2025; the filing notes the related public offering closed on 08/11/2025.

What price and exercise terms are shown for the warrants in the filing?

The combined purchase price per share and accompanying warrant was $2.00; the warrants have a $2.50 exercise price and are exercisable from 08/11/2025 through 08/11/2030.

How many shares and warrants does the filing show the reporting person owns after the transaction?

After the reported transactions the filing shows 9,992 common shares and 5,050 warrants beneficially owned indirectly.

Where are the acquired securities held according to the Form 4?

The filing states the securities are held in the name of Do & Rickles Investments LLC.