# EDGAR Filing Document

**Accession Number:** 0000034956
**File Stem:** 0001654954-23-000110
**Filing Date:** 2023-1
**Character Count:** 18969
**Document Hash:** 835d02303597e59c8349201f76115d2e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-000110.hdr.sgml**: 20230104

**ACCESSION NUMBER**: 0001654954-23-000110

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20230104

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230104

**DATE AS OF CHANGE**: 20230104

**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:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34600
- **FILM NUMBER:** 23507699

**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

?xml version="1.0" encoding="utf-8"?tenx_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 4, 2023**

---

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

---

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-34600** | **26-2593535** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

**101 Glen Lennox Drive, Suite 300**

**<u>Chapel Hill, NC 27517</u>**

(Address of principal executive offices) (Zip Code)

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

(Registrant's telephone number, including area code)

&nbsp;&nbsp;&nbsp;&nbsp;**ONE Copley Parkway, Suite 490**

**<u>Morrisville, NC 27560</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.0001 par value per share | TENX | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

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 13(a) of the Exchange Act. ☐

**Item 3.03 Material Modification to Rights of Security Holders.**

To the extent required by Item 3.03 of Form 8-K, the information set forth in Item 5.03 is incorporated herein by reference.

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

Tenax Therapeutics, Inc. (the "Company") filed a Certificate of Amendment to the Company's Certificate of Incorporation, as amended (the "Certificate of Amendment") with the Secretary of State of Delaware for the purpose of effecting a reverse stock split (the "Reverse Stock Split") of the outstanding shares of the Company's common stock at a ratio of one share for every 20 shares outstanding, so that every 20 outstanding shares of common stock before the Reverse Stock Split represents one share of common stock after the Reverse Stock Split. The Reverse Stock Split was approved by our stockholders at the annual meeting of stockholders held on June 9, 2022 and the Company's Board of Directors approved the Certificate of Amendment with a 1-for-20 ratio on December 15, 2022. The Reverse Stock Split was effective at 5:00 p.m. on January 4, 2023.

Immediately prior to the Reverse Stock Split, there were 45,836,215 shares of common stock outstanding. After the Reverse Split, there were approximately 2,291,811 shares outstanding. Each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged after the Reverse Stock Split except for minor changes and adjustments resulting from rounding of fractional interests. No fractional shares will be issued in connection with the Reverse Stock Split. Each stockholder who would otherwise be entitled to receive a fraction of a share of the Company's common stock will instead receive one whole share of common stock. Because the Certificate of Amendment did not reduce the number of authorized shares of common stock, the effect of the Reverse Stock Split was to increase the number of shares of common stock available for issuance relative to the number of shares issued and outstanding. The Reverse Stock Split did not alter the par value of the common stock and the rights and privileges of the holders of common stock are unaffected by the Reverse Stock Split other than any impact on proportional voting power due to rounding up of fractional shares.

The Reverse Stock Split was effected primarily to enable the Company to meet the continued listing criteria for Nasdaq's Capital Market.

The Company's transfer agent, Issuer Direct Corporation, is also acting as the exchange agent for the reverse stock split.

Pursuant to their terms, a proportionate adjustment will be made to the per share exercise price and number of shares issuable under all of the Company's outstanding options and warrants, and the number of shares authorized and reserved for issuance pursuant to the Company's equity incentive plans will be reduced proportionately.

The foregoing description of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment, which is filed as Exhibit 3.1 to this report and is incorporated by reference herein.

**Item 8.01 Other Events.**

On January 4, 2023, the Company issued a press release regarding the Reverse Stock Split described above under Item 5.03 of this Current Report on Form 8-K. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Additionally, attached hereto as Exhibit 99.2 and incorporated herein by reference is a corporate presentation that the Company plans to use with various investors and analysts.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.**  | **Description**  |
| [3.1](tenx_ex31.htm) | [Certificate of Amendment to Certificate of Incorporation, as amended of Tenax Therapeutics, Inc.](tenx_ex31.htm) |
| [99.1](tenx_ex991.htm) | [Press release dated January 4, 2023.](tenx_ex991.htm) |
| [99.2](tenx_ex992.htm) | [Corporate Presentation of January 2023.](tenx_ex992.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document).  |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: January 4, 2023 | **Tenax Therapeutics, Inc.** | **Tenax Therapeutics, Inc.** |
|  | By:  | /s/ Christopher T. Giordano  |
|  |  | Christopher T. Giordano |
|  |  | President and Chief Executive Officer |

---

## Exhibit 3.1

**EXHIBIT 3.1**

**CERTIFICATE OF AMENDMENT**

**TO** 

**CERTIFICATE OF INCORPORATION, AS AMENDED**

**OF** 

**TENAX THERAPEUTICS, INC.**

The undersigned, for purposes of amending the Certificate of Incorporation, as amended (the "**Certificate**"), of Tenax Therapeutics, Inc., a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the "**Corporation**"), does hereby certify as follows:

**FIRST**: Article IV of the Certificate is hereby amended by adding the following Section K:

"K. The issued and outstanding Common Stock of the corporation, $0.0001 par value, shall, at 5:00 p.m., Eastern Standard Time, on January 4, 2023 (the "2023 Effective Time"), be deemed to be "reverse stock split," and in furtherance thereof, there shall, after the 2023 Effective Time, be deemed to be issued and outstanding one (1) share of the Common Stock of the Corporation for and instead of each twenty (20) shares of the Common Stock of the Corporation issued and outstanding immediately prior to the 2023 Effective Time. Shares of Common Stock that were outstanding prior to the 2023 Effective Time and that are not outstanding after the 2023 Effective Time shall resume the status of authorized but unissued shares of Common Stock. To the extent that any stockholder shall be deemed after the 2023 Effective Time as a result of this amendment to own a fractional share of Common Stock, such fractional share shall be deemed to be one whole share.

The reverse stock split shall occur without any further action on the part of the Corporation or the holders of shares of common stock and whether or not certificates representing such holders' shares prior to the reverse stock split are surrendered for cancellation. Each stock certificate that, immediately prior to the 2023 Effective Time, represented shares of Common Stock shall, after the 2023 Effective Time, represent that number of whole shares of Common Stock into which the shares of Common Stock represented by such certificate shall have been reclassified (as well as the right to receive a whole share in lieu of any fractional shares of Common Stock as set forth above); provided, however, that each holder of record of a certificate that represented shares of Common Stock prior to the 2023 Effective Time shall receive, upon surrender of such certificate, a new certificate representing the number of whole shares of Common Stock into which the shares of Common Stock represented by such certificate shall have been reclassified, as well as any whole share in lieu of fractional shares of Common Stock to which such holder may be entitled pursuant to the immediately preceding paragraph."

**SECOND**: Except as expressly amended herein, all provisions of the Certificate filed with the Office of the Secretary of State of the State of Delaware on April 17, 2008, and amended on November 4, 2009, May 10, 2013, September 8, 2014 and February 22, 2018, shall remain in full force and effect.

**THIRD**: That said amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

**FOURTH**: That the Corporation's number of shares of authorized capital stock of all classes, and the par value thereof, shall not be changed or affected under or by reason of said amendment.

**FIFTH**: That said amendment shall be effective at 5:00 p.m., Eastern Standard Time, on January 4, 2023.

1<br>

**IN WITNESS WHEREOF**, the undersigned, being a duly authorized officer of the Corporation, does hereby execute this Certificate of Amendment to the Certificate of Incorporation, as amended, this third day of January, 2023.

---

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

---

2<br>

## Exhibit 99.1

**EXHIBIT 99.1**

![](tenx_ex991img1.jpg)

**Tenax Therapeutics Announces Reverse Stock Split**

MORRISVILLE, NC, January 4, 2022 — Tenax Therapeutics, Inc. (Nasdaq: TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need, announced today that it will be executing a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will become effective at 5:00 pm Eastern Time on January 4, 2023. The Company's common stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis beginning upon market open on January 5, 2023, under the Company's existing trading symbol "TENX".

The reverse stock split was previously approved by the Company's stockholders at the annual meeting of stockholders held on June 9, 2022, with the final ratio determined by the Company's Board of Directors. The reverse stock split is intended to bring the Company into compliance with Nasdaq's minimum bid price requirement. The new CUSIP number following the reverse stock split will be 88032L506.

As a result of the reverse split, every 20 shares of Company common stock will be automatically combined into one share of Company common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage ownership interest in the Company's equity, except for minor changes to the treatment of fractional shares as described below. The reverse stock split will reduce the number of shares of common stock issued and outstanding from 45,836,215 to approximately 2,291,811.

No fractional shares will be issued following the reverse stock split, and the stock will be rounded up to the nearest whole share.

As of the effective date of the reverse stock split, the number of shares of common stock available for issuance under the Company's equity incentive plans and issuable upon the exercise of stock options and warrants outstanding immediately prior to the reverse stock split will be proportionately affected by the reverse stock split. The exercise prices of the Company's outstanding options and warrants will be adjusted in accordance with their respective terms.

There will be no change to the number of authorized shares or the par value per share.

Additional information concerning the reverse stock split can be found in the Company's proxy statement filed with the Securities and Exchange Commission on April 28, 2022.

The Company's transfer agent, Issuer Direct Corporation ("Issuer Direct"), is also acting as the exchange agent for the reverse stock split. Stockholders owning shares electronically in book-entry form via a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split and will not be required to take further action in connection with the reverse stock split, subject to their brokers' particular processes. Stockholders holding physical certificates will have their post-split positions reflected in the Company's stockholder records with Issuer Direct and should contact Issuer Direct at (801) 272-9294 ex. 711 or Julie.Felix@issuerdirect.com for information on how to exchange their old certificated shares, if they wish to do so.

**About Tenax Therapeutics**

Tenax Therapeutics, Inc. is a specialty pharmaceutical company focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need. The Company owns North American rights to develop and commercialize subcutaneous and oral formulations of levosimendan. Tenax Therapeutics is also developing a unique oral formulation of imatinib. For more information, visit www.tenaxthera.com.

**Caution Regarding Forward-Looking Statements**

Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: risks related to the effect of the reverse stock split and our continued listing on Nasdaq; our ability to raise additional money to fund our operations for at least the next 12 months as a going concern; statements regarding our future performance, our evaluation of strategic alternatives, and the results of such evaluation; risks of our clinical trials, including, but not limited to, the timing, delays, costs, design, initiation, enrollment, and results of such trials; reliance on third parties, including Orion Corporation, our manufacturers and CROs; risks regarding the formulation, production, marketing and customer acceptance of our product candidates; intellectual property risks; our ability to maintain our culture and recruit, integrate and retain qualified personnel and advisors, including on our Board of Directors; volatility and uncertainty in the global economy and financial markets in light of the evolving COVID-19 pandemic; changes in legal, regulatory and legislative environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products; and other risks and uncertainties set forth from time to time in our SEC filings. Tenax Therapeutics assumes no obligation and does not intend to update these forward-looking statements except as required by law.

**Contacts**

Investor Contact:

John Mullaly

Managing Director

LifeSci Advisors, LLC

C: 617-429-3548

<u>jmullaly@lifesciadvisors.com</u>

## Exhibit 99.2

**EXHIBIT 99.2**

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