EX-10.13



 Exhibit 10.13 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT
REQUIRED. 
 Void after 

                    , 2010 

BIOCARDIA, INC. 

WARRANT TO PURCHASE SHARES 
 This
Warrant is issued to                      by BioCardia, Inc., a Delaware corporation (the “Company”), in connection with the
Company’s issuance to the holder of this Warrant of a Convertible Promissory Note (the “Note”). 
 1. Purchase of
Shares. Subject to the terms and conditions hereinafter set forth, the holder of this Warrant is entitled, upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the holder
hereof in writing), to purchase from the Company up to the number of fully paid and nonassessable Shares (as defined below), that equals the quotient obtained by dividing (a) the Warrant Coverage Amount (as defined below) by (b) the
Exercise Price (as defined below). 
 2. Definitions. 

(a) Exercise Price. The exercise price for the Shares shall be the price per share of equity securities sold to investors in a
Qualified Equity Financing (such price, as adjusted from time to time, is herein referred to as the “Exercise Price”). 

(b) Exercise Period. This Warrant shall be exercisable, in whole or in part, during the term commencing on the closing date of a
Qualified Equity Financing (as defined below) or for fifteen (15) days prior to a Change of Control and ending on the expiration of this Warrant pursuant to Section 14 hereof. 

(c) Warrant Coverage Amount. The term “Warrant Coverage Amount” shall mean that amount which equals 50% of the
principal amount of the Note. 
 (d) The Shares. The term “Shares” shall mean shares of the Company’s Preferred
Stock issued to investors in a Qualified Equity Financing which occurs prior to a Change of Control. 







 (e) Qualified Equity Financing. The term “Qualified Equity Financing”
means an equity financing pursuant to which the Company sells shares of its Preferred Stock with an aggregate sales price of at least $2 million ($2,000,000), excluding any and all convertible bridge notes (including Notes issued pursuant to
Schedule 1 of the Convertible Promissory Note) which are converted into preferred stock and with the principal purpose of raising capital. 

(f) Change of Control. The term “Change of Control” shall mean (i) any transaction involving the Company pursuant
to which the Company’s stockholders immediately prior to the transaction own less than fifty percent (50%) of the voting securities of the Company or surviving entity following the closing of such transaction, (ii) the sale of all or
substantially all of the assets of the Company or (iii) the closing of the Company’s initial public offering. 
 3. Method of
Exercise. While this Warrant remains outstanding and exercisable in accordance with Section 2 above, the holder may exercise, in whole or in part, the purchase rights evidenced hereby. Such exercise shall be effected by: 

(i) the surrender of the Warrant, together with a notice of exercise to the Secretary of the Company at its principal offices; and 

(ii) the payment to the Company of an amount equal to the aggregate Exercise Price for the number of Shares being purchased. 

4. Net Exercise. In lieu of cash exercising this Warrant, the holder of this Warrant may elect to receive shares equal to the value of
this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with notice of such election, in which event the Company shall issue to the holder hereof a number of Shares computed
using the following formula: 
 X= Y * (A - B)/A 

Where 
 X — The number of
Shares to be issued to the holder of this Warrant. 
 Y — The number of Shares purchasable under this Warrant. 

A — The fair market value of one Share. 

B — The Exercise Price (as adjusted to the date of such calculations). 

For purposes of this Section 4, the fair market value of a Share shall mean the average of the closing bid and asking prices of Shares
quoted in the over-the-counter market in which the Shares are traded or the closing price quoted on any exchange on which the Shares are listed, whichever is applicable, as published in the Western Edition of The Wall Street Journal for the
ten (10) trading days prior to the date of determination of fair market value (or such shorter period of time during which such stock was traded over-the-counter or on such exchange). If the Shares are not traded on any over-the-counter market
or exchange, the fair market value shall be the price per Share that the 

  
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Company could obtain from a willing buyer for Shares sold by the Company from authorized but unissued Shares, as such prices shall be determined in good faith by the Company’s Board of
Directors. 
 5. Certificates for Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more
certificates for the number of Shares so purchased shall be issued as soon as practicable thereafter, and in any event within thirty (30) days of the delivery of the subscription notice. 

6. Issuance of Shares. The Company covenants that the Shares, when issued pursuant to the exercise of this Warrant, will be duly and
validly issued, fully paid and nonassessable and free from all taxes, liens, and charges with respect to the issuance thereof. 
 7.
Adjustment of Exercise Price and Number of Shares. The number of and kind of securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows: 

(a) Subdivisions, Combinations and Other Issuances. If the Company shall at any time prior to the expiration of this Warrant subdivide
the Shares, by split-up or otherwise, or combine its Shares, or issue additional shares of its Shares as a dividend, the number of Shares issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a
subdivision or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the purchase price payable per share, but the aggregate purchase price payable for the total number of Shares
purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 7(a) shall become effective at the close of business on the date the subdivision or combination becomes effective, or as of the record date of
such dividend, or in the event that no record date is fixed, upon the making of such dividend. 
 (b) Reclassification, Reorganization
and Consolidation. In case of any reclassification, capital reorganization, or change in the capital stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 7(a) above), then the
Company shall make appropriate provision, so that the holder of this Warrant shall have the right at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and
amount of shares of stock and other securities and property receivable in connection with such reclassification, reorganization, or change by a holder of the same number of Shares as were purchasable by the holder of this Warrant immediately prior
to such reclassification, reorganization, or change. In any such case appropriate provisions shall be made with respect to the rights and interest of the holder of this Warrant, so that the provisions hereof shall thereafter be applicable with
respect to any shares of stock or other securities and property deliverable upon exercise hereof, and appropriate adjustments shall be made to the purchase price per share payable hereunder, provided that the aggregate purchase price shall remain
the same. 
 (c) Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon
exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the holder of such event and of the number of Shares or other securities or property thereafter purchasable upon exercise of this Warrant. 

  
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 8. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional
shares shall be issued upon the exercise of this Warrant, but in lieu of such fractional shares, the Company shall make a cash payment therefor on the basis of the Exercise Price then in effect. 

9. Representations of the Company. The Company represents that all corporate actions on the part of the Company, its officers,
directors and stockholders necessary for the sale and issuance of this Warrant have been taken. 
 10. Representations and Warranties by
the Holder. The Holder represents and warrants to the Company as follows: 
 (a) This Warrant and the Shares issuable upon exercise
thereof are being acquired for its own account, for investment and not with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act of 1933, as amended (the
“Act”). Upon exercise of this Warrant, the Holder shall, if so requested by the Company, confirm in writing, in a form satisfactory to the Company, that the securities issuable upon exercise of this Warrant are being acquired for
investment and not with a view toward distribution or resale. 
 (b) The Holder understands that the Warrant and the Shares have not been
registered under the Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the Act pursuant to Section 4(2) thereof, and that they must be held by the Holder indefinitely, and that
the Holder must therefore bear the economic risk of such investment indefinitely, unless a subsequent disposition thereof is registered under the Act or is exempted from such registration. The Holder further understands that the Warrant Shares have
not been qualified under the California Securities Law of 1968 (the “California Law”) by reason of their issuance in a transaction exempt from the qualification requirements of the California Law pursuant to Section 25102(f)
thereof, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent expressed above. 

(c) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of
the purchase of this Warrant and the Shares purchasable pursuant to the terms of this Warrant and of protecting its interests in connection therewith. 

(d) The Holder is able to bear the economic risk of the purchase of the Shares pursuant to the terms of this Warrant. 

(e) The Holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Act.


  
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 11. Restrictive Legend. 

The Shares (unless registered under the Act) shall be stamped or imprinted with a legend in substantially the following form: 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS. COPIES OF THE AGREEMENT COVERING THE PURCHASE OF THESE SHARES AND RESTRICTING THEIR TRANSFER MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF THE COMPANY AT THE
PRINCIPAL EXECUTIVE OFFICES OF THE COMPANY. 
 12. Warrants Transferable. Subject to compliance with the terms and conditions of this
Section 12, this Warrant and all rights hereunder are transferable, in whole or in part, without charge to the holder hereof (except for transfer taxes), upon surrender of this Warrant properly endorsed or accompanied by written instructions of
transfer. With respect to any offer, sale or other disposition of this Warrant or any Shares acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or Shares, the holder hereof agrees to give written notice to the
Company prior thereto, describing briefly the manner thereof, together with a written opinion of such holder’s counsel, or other evidence, if requested by the Company, to the effect that such offer, sale or other disposition may be effected
without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or the Shares and indicating whether or not under the Act certificates for this Warrant or the Shares to be
sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, if
so requested, the Company, as promptly as practicable, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such Shares, all in accordance with the terms of the notice delivered to the Company. If a
determination has been made pursuant to this Section 12 that the opinion of counsel for the holder or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the holder promptly with details thereof after such
determination has been made. Each certificate representing this Warrant or the Shares transferred in accordance with this Section 12 shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with
such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such
restrictions. 
 13. Rights of Stockholders. No holder of this Warrant shall be entitled, as a Warrant holder, to vote or receive
dividends or be deemed the holder of the Shares or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this
Warrant, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action
(whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise
until the Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 

  
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 14. Expiration of Warrant; Notice of Certain Events Terminating This Warrant. 

(a) This Warrant shall expire and shall no longer be exercisable upon the earlier to occur of: 

(i) 5:00 p.m., California local time, on the date first set forth above; 

(ii) Any Change of Control; or 

(iii) The initial public offering of the Company’s Common Stock. 

(b) The Company shall provide at least ten (10) days prior written notice of any event set forth in Section 14(a)(ii) or (iii). 

15. Notices. All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given,
and shall in any event be deemed to be given upon receipt or, if earlier, (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon
delivery, if delivered by hand, (c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid or (d) one business day after the business day of facsimile transmission, if
delivered by facsimile transmission with copy by first class mail, postage prepaid, and shall be addressed (i) if to the Holder, at the Holder’s address as set forth on the Schedule of Investors to the Convertible Promissory Note, and
(ii) if to the Company, at the address of its principal corporate offices (attention: President), with a copy to Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, CA 94304 or at such other address as a party may
designate by ten days advance written notice to the other party pursuant to the provisions above. 
 16. “Market Stand-Off”
Agreement. Holder hereby agrees that, during the period of duration specified by the Company and an underwriter of common stock or other securities of the Company, following the effective date of a registration statement of the Company filed
under the Act, it shall not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise
transfer or dispose of (other than to donees who agree to be similarly bound) any securities of the Company held by it at any time during such period except common stock included in such registration; provided, however, that: 

(a) all executive officers and directors of the Company enter into similar agreements; 

(b) the Company obtains from persons who hold one percent (1%) or greater of the Company’s outstanding capital stock, a lock-up
agreement similar to that set forth in this Section 16; and 
 (c) such market stand-off time period shall not exceed one hundred and
eighty (180) days for the Company’s initial public offering. 

  
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 Holder agrees to provide to the underwriters of any public offering such further agreements as
such underwriter may reasonably request in connection with this market stand-off agreement, provided that the terms of such agreements are substantially consistent with the provisions of this Section 16. In order to enforce the foregoing
covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

Notwithstanding the foregoing, the obligations described in this Section 16 shall not apply to a registration relating solely to employee
benefit plans on Form S-1 or Form S-8 or similar forms which may be promulgated in the future, or a registration relating solely to an SEC Rule 145 transaction. 

17. Registration Rights Agreement. The registration rights of the Holder (including Holders’ successors) with respect to the
Common Stock issuable upon conversion of the Shares issuable upon exercise of this Warrant will be the same as granted to the holders of Shares issued in the Qualified Equity Financing. 

18. Governing Law. This Warrant and all actions arising out of or in connection with this Agreement shall be governed by and construed
in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California or of any other state. 

19. Rights and Obligations Survive Exercise of Warrant. Unless otherwise provided herein, the rights and obligations of the Company, of
the holder of this Warrant and of the holder of the Shares issued upon exercise of this Warrant, shall survive the exercise of this Warrant. 

Issued this      day of 20    . 

 

			
	BioCardia, Inc.
	
	  

		
	By:		  

		
	Title:		  




  
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 EXHIBIT A 

NOTICE OF EXERCISE 
  

					
	TO:		BioCardia, Inc.		
			  
		
			  
		

 Attention: President 

1. The undersigned hereby elects to purchase
                     Shares of
                     pursuant to the terms of the attached Warrant. 

2. Method of Exercise (Please initial the applicable blank): 
  

	 	    	The undersigned elects to exercise the attached Warrant by means of a cash payment, and tenders herewith payment in full for the purchase price of the shares being purchased, together with all applicable transfer taxes,
if any. 

  

	 	    	The undersigned elects to exercise the attached Warrant by means of the net exercise provisions of Section 4 of the Warrant. 


3. Please issue a certificate or certificates representing said Shares in the name of the undersigned or in such other name as is specified
below: 
  

					
			  
		
			(Name)		
			
			  
		
			
			  
		
			(Address)		

 4. The undersigned hereby represents and warrants that the aforesaid Shares are being acquired for the account
of the undersigned for investment and not with a view to, or for resale, in connection with the distribution thereof, and that the undersigned has no present intention of distributing or reselling such shares, and all representations and warranties
of the undersigned set forth in Section 10 of the attached Warrant (including Section 10 (e) thereof) are true and correct as of the date hereof. 
  

					
					  

					(Signature)
			
					  

					(Name)
			
	  
				  

	(Date)				(Title)








 EXHIBIT B 

FORM OF TRANSFER 
 (To be
signed only upon transfer of Warrant) 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         the
right represented by the attached Warrant to purchase                      shares
of                     of BioCardia, Inc. to which the attached Warrant relates, and appoints
                     Attorney to transfer such right on the books of
                    , with full power of substitution in the premises. 
  

			
	Dated:		  


  

			
	  

	
	(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)
		
	Address: