# EDGAR Filing Document

**Accession Number:** 0000034956
**File Stem:** 0001654954-23-001233
**Filing Date:** 2023-2
**Character Count:** 23378
**Document Hash:** 1c06e44743aa96e6dcef613deaeb0fe5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-001233.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001654954-23-001233

**CONFORMED SUBMISSION TYPE**: S-1MEF

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**EFFECTIVENESS DATE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TENAX THERAPEUTICS, INC.
- **CENTRAL INDEX KEY:** 0000034956
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 262593535
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269541
- **FILM NUMBER:** 23582395

**BUSINESS ADDRESS:**
- **STREET 1:** 101 GLEN LENNOX DRIVE
- **STREET 2:** SUITE 300
- **CITY:** CHAPEL HILL
- **STATE:** NC
- **ZIP:** 27517
- **BUSINESS PHONE:** 919-855-2100

**MAIL ADDRESS:**
- **STREET 1:** 101 GLEN LENNOX DRIVE
- **STREET 2:** SUITE 300
- **CITY:** CHAPEL HILL
- **STATE:** NC
- **ZIP:** 27517

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OXYGEN BIOTHERAPEUTICS, INC.
- **DATE OF NAME CHANGE:** 20080703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SYNTHETIC BLOOD INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SINEQUANON CORP
- **DATE OF NAME CHANGE:** 19901219

**As filed with the U.S. Securities and Exchange Commission on February 2, 2023**

**Registration No.** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-1**

**REGISTRATION STATEMENT**

**UNDER THE**

**SECURITIES ACT OF 1933**

---

| |
|:---|
| **Tenax Therapeutics, Inc.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | | |
|:---|:---|:---|
| **Delaware** | **2834** | **26-2593535** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**Tenax Therapeutics, Inc.**

**101 Glen Lennox Drive, Suite 300**

**Chapel Hill, North Carolina 27517** 

**<u>(919) 855-2100</u>**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Christopher T. Giordano** 

**President and Chief Executive Officer**

**101 Glen Lennox Drive, Suite 300**

**Chapel Hill, North Carolina 27517** 

**<u>(919) 855-2100</u>**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

---

| | | |
|:---|:---|:---|
| <br> **Donald R. Reynolds**<br> **S. Halle Vakani**<br> **Lorna A. Knick** <br> **Wyrick Robbins Yates & Ponton LLP**<br> **4101 Lake Boone Trail, Suite 300**<br> **Raleigh, NC 27607**<br> **Telephone: (919) 781-4000** | *Copies to:*<br>| <br> **M. Ali Panjwani**<br> **Pryor Cashman LLP**<br> **7 Times Square**<br> **New York, NY 10036**<br> **Telephone: (212) 421-4100** |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ **333-269363**

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**This Registration Statement shall become effective upon filing in accordance with Rule 462(b) under the Securities Act of 1933, as amended.**

**EXPLANATORY NOTE**

This Registration Statement is being filed by Tenax Therapeutics, Inc. (the "Company") pursuant to Rule 462(b) as promulgated under the Securities Act of 1933, as amended, and includes the registration statement facing page, this page, the signature page, an exhibit index and the required opinion and consents solely to register up to an aggregate of $9,100,000 in additional (i) shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), (ii) pre-funded warrants to purchase shares of our Common Stock, (iii) warrants to purchase shares of our Common Stock (together with the pre-funded warrants, the "Warrants") and (iv) shares of Common Stock issuable upon exercise of the Warrants. The contents of the Registration Statement on Form S-1 (File No. 333-269363), as amended, including the exhibits and powers of attorney included therein (the "Prior Registration Statement"), which was declared effective by the Securities and Exchange Commission on February 2, 2023, are incorporated by reference in this Registration Statement. The additional securities that are being registered for sale are in an amount and at a price that together represent no more than 20% of the maximum aggregate offering price set forth in Exhibit 107 to the Prior Registration Statement.

The required opinion and consents are listed on the Exhibit Index attached hereto and filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Chapel Hill, State of North Carolina, on February 2, 2023.

---

| | |
|:---|:---|
| **TENAX THERAPEUTICS, INC.** | **TENAX THERAPEUTICS, INC.** |
| By: | /s/ Christopher T. Giordano |
| Name: | Christopher T. Giordano |
| Title: | President and Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, the following persons in the capacities and on the dates indicated have signed this registration statement below.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Christopher T. Giordano | President, Chief Executive Officer and Director (*principal executive officer*) | February 2, 2023 |
| Christopher T. Giordano | President, Chief Executive Officer and Director (*principal executive officer*) |  |
| /s/ Eliot M. Lurier | Interim Chief Financial Officer (*principal financial officer*  | February 2, 2023 |
| Eliot M. Lurier | *and principal accounting officer*) |  |
| \* | Chairman of the Board and Director | February 2, 2023 |
| Gerald Proehl | Chairman of the Board and Director |  |
| \* | Director | February 2, 2023 |
| June Almenoff, MD |  |  |
| \* | Director | February 2, 2023 |
| Michael Davidson, MD |  |  |
| \* | Director | February 2, 2023 |
| Declan Doogan, MD |  |  |
| \* | Director | February 2, 2023 |
| Robyn M. Hunter |  |  |
| \* | Director | February 2, 2023 |
| Stuart Rich, MD |  |  |

---

\*Christopher T. Giordano, by signing his name hereto, does hereby sign this document on behalf of each of the above-named directors of the registrant pursuant to powers of attorney duly executed by such persons.

**EXHIBIT INDEX**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exhibit Number** | **Exhibit Title** | **Form** | **File** | **Exhibit** | **Filing Date** |
| [5.1](tenx_ex51.htm) | [Opinion of Wyrick Robbins Yates & Ponton LLP.](tenx_ex51.htm) | -- | -- | -- | Filed herewith |
| [23.1](tenx_ex231.htm) | [Consent of Independent Registered Public Accounting Firm.](tenx_ex231.htm) | -- | -- | -- | Filed herewith |
| [23.2](tenx_ex51.htm) | [Consent of Wyrick Robbins Yates & Ponton (included in Exhibit 5.1).](tenx_ex51.htm) | -- | -- | -- | Filed herewith |
| [24.1](http://www.sec.gov/ix?doc=/Archives/edgar/data/34956/000165495423000693/tenx_s1.htm) | [Power of Attorney (included on the signature page of the registration statement on Form S-1 filed by the Company on January 23, 2023).](http://www.sec.gov/ix?doc=/Archives/edgar/data/34956/000165495423000693/tenx_s1.htm) | S-1 | 333-269363 | -- | January 23, 2023 |
| [107](tenx_ex107.htm) | [Filing Fee Table.](tenx_ex107.htm) | - | - | - | Filed herewith |

---

## Exhibit 5.1

**EXHIBIT 5.1**

Wyrick Robbins Yates & Ponton LLP

4101 Lake Boone Trail, Suite 300

Raleigh, North Carolina 27607

February 2, 2023

Board of Directors

Tenax Therapeutics, Inc.

101 Glen Lennox Drive, Suite 300

Chapel Hill, North Carolina 27517

Ladies and Gentlemen:

We have acted as counsel to Tenax Therapeutics, Inc., a Delaware corporation (the "Company"), in connection with its registration of the offer and sale by the Company of up to a maximum aggregate $54,600,000 of (i) shares (the "**Common Stock Shares**") of the Company's common stock, $0.0001 par value per share (the "**Common Stock**"), or pre-funded warrants to purchase shares of Common Stock (the "**Pre-Funded Warrants**"), (ii) warrants to purchase shares of Common Stock (the "**Common Warrants**" and, together with the Pre-Funded Warrants, the "**Warrants**") and (iii) shares of Common Stock issuable from time to time upon the exercise of the Warrants (the "**Warrant Shares**" and, together with the Warrants, Pre-Funded Warrants and Common Stock Shares, the "**Securities**"), in each case pursuant to the Registration Statement on Form S-1, as amended (File No. 333-269363) (the "**Form S-1 Registration Statement**"), and the registration statement pursuant to Rule 462(b) (the "**Rule 462(b) Registration Statement**", and together with the Form S-1 Registration Statement, the "**Registration Statements**"), each filed by the Company with the Securities and Exchange Commission (the "**Commission**") under the Securities Act of 1933, as amended (the "**Act**"), including a related prospectus filed with the Form S-1 Registration Statement (the "**Prospectus**"). The Securities are to be sold pursuant to a Placement Agency Agreement (the "**Placement Agency Agreement**") between the Company and Roth Capital Partners, LLC (the "**Placement Agent**") and as described in the Registration Statement and the Prospectus.

This opinion is being furnished in accordance with the requirements of Item 16 of Form S-1 and Item 601(b)(5) of Regulation S-K.

In connection with the foregoing, we have relied upon, among other things, our examination of such documents, records of the Company and certificates of its officers and public officials as we deemed necessary for purposes of the opinions expressed below, including, without limitation, (i) the Registration Statements and Prospectus, (ii) the form of Placement Agency Agreement filed with the Form S-1 Registration Statement, (iii) the form of Securities Purchase Agreement between the Company and each purchaser to be identified on the signature pages thereto, filed with the Form S-1 Registration Statement (the "**Purchase Agreement**"), (iv) the form of Common Warrant and the form of Pre-Funded Warrant filed with the Form S-1 Registration Statement, (v) the form of Warrant Agency Agreement filed with the Form S-1 Registration Statement (the "**Warrant Agreement**"), (vi) the Company's Certificate of Incorporation and Bylaws, as currently in effect, and (vii) the corporate proceedings of the Company taken to date. In addition, we have assumed that the Company's Board of Directors or an authorized committee thereof has taken action to set the sale price of the Common Stock Shares and the Warrants and the exercise price of the Warrants. We have also examined such authorities of law as we have deemed relevant as a basis for our opinions hereinafter set forth. In our examination of documents for purposes of this opinion, we have assumed, and express no opinion as to, the authenticity and completeness of all documents submitted to us as originals, the conformity to originals and completeness of all documents submitted to us as copies, the legal capacity of all persons or entities executing the same, the lack of any undisclosed termination, modification, waiver or amendment to any document reviewed by us, and the due authorization, execution and delivery of all documents by the stockholders where due authorization, execution and delivery are prerequisites to the effectiveness thereof.

Board of Directors

Tenax Therapeutics, Inc.

February 2, 2023

In connection with our opinions expressed below, we have also assumed that, at or prior to the time of the issuance, and the delivery of any Securities, the Registration Statements will have been declared effective under the Act, and the Securities will have been registered under the Act pursuant to the Registration Statements and that such registration will not have been modified or rescinded, that no stop order suspending the effectiveness of the Registration Statements or any post-effective amendment thereto shall have been issued in connection with the Registration Statements, and that there will not have occurred any change in law affecting the validity of the issuance of the Securities.

Based upon and subject to the foregoing qualifications, assumptions and limitations, we are of the opinion that:

1. Upon payment therefor and issuance and delivery thereof in accordance with the Placement Agency Agreement and the Purchase Agreement, including the book entry registration and issuance thereof by the Company's transfer agent and registrar, the Common Stock Shares will be validly issued, fully paid and non-assessable.

2. Provided that the Warrants have been duly executed and delivered by the Company to the purchasers thereof against payment therefor in accordance with and as provided in resolutions adopted by the Company's Board of Directors or an authorized committee thereof and the Placement Agency Agreement, the Purchase Agreement, the Registration Statements and the Prospectus, the Warrants will be valid and binding obligations of the Company, except as the same may be limited by applicable bankruptcy, insolvency, voidable transactions, fraudulent conveyance, fraudulent transfer, reorganization, moratorium, assignment for the benefit of creditors and other laws now or hereafter in effect relating to or affecting creditors' rights generally and equitable principles of general applicability (regardless of whether considered in a proceeding in equity or at law).

3. Following (i) execution and delivery by the Company of the Warrants pursuant to the terms of the Placement Agency Agreement and the Purchase Agreement, (ii) receipt by the Company of the consideration for the Warrants specified in the resolutions of the Company's Board of Directors or an authorized committee thereof, and (iii) exercise of the Warrants pursuant to their terms, receipt by the Company of the exercise price for the Warrant Shares as specified in the Warrants and issuance by the Company of the Warrant Shares thereunder, including the book entry registration and issuance thereof by the Company's transfer agent and registrar, the Warrant Shares will be validly issued, fully paid and nonassessable.

Board of Directors

Tenax Therapeutics, Inc.

February 2, 2023

We render this opinion only with respect to, and express no opinion herein concerning the application or effect of the laws of any jurisdiction other than the existing Delaware General Corporation Law and reported judicial decisions relating thereto, except with respect to opinion paragraph (2) above, which is rendered with respect to the laws of the State of New York.

We hereby consent to the filing of this opinion as an exhibit to the Rule 462(b) Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Act or the rules and regulations promulgated thereunder by the Commission.

This opinion is intended solely for use in connection with issuance and sale of the Securities subject to the Registration Statements and is not to be relied upon for any other purpose. This opinion is rendered as of the date first written above and based solely on our understanding of facts in existence as of such date after the aforementioned examination. We assume no obligation to advise you of any fact, circumstance, event or change in the law or the facts that may hereafter be brought to our attention whether or not such occurrence would affect or modify any of the opinions expressed herein.

Very truly yours,

/s/ Wyrick Robbins Yates & Ponton LLP

## Exhibit 23.1

**EXHIBIT 23.1** 

**Consent of Independent Registered Public Accounting Firm**

We hereby consent to the use in this Registration Statement on Form S-1 filed pursuant to Rule 415 of Tenax Therapeutics, Inc. and subsidiaries (the "Company") of our report dated March 29, 2022, with respect to the consolidated balance sheets of the Company as of December 31, 2021 and 2020, and of the related consolidated statements of operations and comprehensive loss, stockholders' equity, and cash flows for each of the years in the two-year period ended December 31, 2021, and the related notes, included in this Registration Statement. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

*/s/ Cherry Bekaert LLP*

Raleigh, North Carolina

February 2, 2023

## Ex-Filing

**EXHIBIT 107** 

**Calculation of Filing Fee Tables** 

**Form S-1**

(Form Type)

**Tenax Therapeutics, Inc.** 

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered and Carry Forward Securities</u> 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security** <br> **Type** | **Security** <br> **Class Title** | **Fee** <br> **Calculation**<br> **or Carry**<br> **Forward**<br> **Rule** | **Amount** <br> **Registered** | **Proposed** <br> **Maximum**<br> **Offering**<br> **Price Per**<br> **Unit** | **Maximum** <br> **Aggregate Offering**<br> **Price (1)(2)** | <br> **Fee Rate** | **Amount of** <br> **Registration**<br> **Fee** | **Carry** <br> **Forward**<br> **Form**<br> **Type** | **Carry** <br> **Forward**<br> **File**<br> **Number** | **Carry** <br> **Forward**<br> **Initial**<br> **effective**<br> **date** | **Filing Fee** <br> **Previously**<br> **Paid In**<br> **Connection**<br> **with**<br> **Unsold**<br> **Securities**<br> **to be**<br> **Carried**<br> **Forward** |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| Fees to be Paid  | Equity | Common Stock, par value $0.0001 per share (2) | 457(o) |  |  | $2600000 | $0.00011020 | $286.52 |  |  |  |  |
|  | Equity | Warrants | 457(g) |  |  |  |  | (4) |  |  |  |  |
|  | Equity | Common Stock, $0.0001 par value per share, issuable upon the exercise of the Warrants (2)  | 457(o) |  |  | $6500000 | $0.00011020 | $716.30 |  |  |  |  |
|  | Equity | Pre-Funded Warrants | 457(g) |  |  | (3) |  | (4) |  |  |  |  |
|  | Equity | Common Stock, $0.0001 par value per share, issuable upon the exercise of the Pre-Funded Warrants (2)  | 457(g) |  |  |  |  | (4) |  |  |  |  |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| Carry Forward Securities |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $9100000 |  | $1002.82 |  |  |  |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  | $0 |  |  |  |  |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | $0 |  |  |  |  |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $1002.82 |  |  |  |  |

---

(1) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act").

(2) The registrant previously registered securities with a proposed maximum aggregate offering price not to exceed $45,500,000 on a registration statement on Form S-1, as amended (File No. 333-269363), which was declared effective by the Securities and Exchange Commission on February 2, 2023. In accordance with Rule 462(b) under the Securities Act, an additional amount of securities having a proposed maximum aggregate offering price of $9,100,000 is hereby registered.

(2) Pursuant to Rule 416 under the Securities Act, this registration statement also registers an indeterminate number of shares of the registrant's Common Stock which may become issuable by reason of any stock dividend, stock split or other similar transaction effected without the receipt of consideration that results in an increase in the number of the outstanding shares of the Registrant's Common Stock.

(3) The proposed maximum aggregate offering price of the Common Stock will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants issued in the offering, and the proposed maximum aggregate offering price of the Pre-Funded Warrants to be issued in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Common Stock issued in the offering. Accordingly, the proposed maximum aggregate offering price of the Common Stock, Warrants and Pre-Funded Warrants (including the Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $15,600,000.

(4) No separate registration fee is payable pursuant to Rule 457(g) under the Securities Act.