SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/forms-1.htm

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to the greater of (A) the then effective conversion rate as calculated pursuant to Section 5 of the Third Amended and Restated Certificate of Incorporation, as amended or (B) the original issue price of the Series A Preferred Stock divided by the price per share of the Common Stock issued in this offering. Therefore, if the offering price is $10.00/share or greater, each share of Series A Preferred Stock will convert into one share of Common Stock. If the offering price is less than $10.00/share, then each share of Series A Preferred Stock will convert into the number of shares of Common Stock as calculated by dividing $10.00 by the offering price. For example, if the offering price is $8.00, then each share of Series A Preferred Stock will get $10.00 divided by $8.00 (1.25000) shares of Common Stock. October 2024 Through January 2026 Series A-1 Secured Convertible Note Financing

From October 2024 through January
2026, we issued $7,575,000 in principal amount of secured convertible promissory notes (the “Series A-1 Secured Convertible
Notes”) to accredited investors the repayment of which is secured by a grant of security interest in all of our assets which security
interest is pari passu to the security interest granted to the Secured Convertible Note holders. The Series A-1 Secured Convertible Notes
accrue interest at the annual rate of 15% compounded quarterly and have a maturity date of December 31, 2027. As part of the Series A-1
Secured Convertible Note financing, we filed a Certificate of Designations of the Rights, Preferences and Privileges of Series A-1 Preferred
Stock which designated a new Series A-1 Preferred Stock from its authorized Blank Check Preferred Stock. The Series A-1 Secured Convertible
Notes automatically convert into shares of Series A-1 Preferred Stock at the conversion price of $3.33 per share immediately prior to
the closing of this Offering (assuming gross proceeds of $7,500,000 to us in this offering), which shares of Series A-1 Preferred Stock
are then subject to immediate mandatory conversion into Common Stock at a conversion rate equal to the greater of (A) the then effective
conversion rate as calculated pursuant to Section 4.1.1 of the Certificate of Designations of Rights, Preferences and Privileges of Series
A-1 Preferred Stock or (B) three times (3x) the original issue price of the Series A-1 Preferred Stock divided by the price per share
of the Common Stock issued in this offering. Therefore, if the offering price is $10.00/share or greater, each share of Series
A-1 Preferred Stock will convert into one share of Common Stock. If the offering price is less than $10.00/share, then each share
of Series A-1 Preferred Stock will convert into the number of shares of Common Stock as calculated by dividing $9.99 by the offering
price. For example, if the offering price is $8.00, then each share of Series A-1 Preferred Stock will get $9.99 divided by $8.00 (1.24875)
shares of Common Stock.

Investors’ Rights
Agreement

We are party to an Investors’ Rights Agreement (the “Investors’ Rights Agreement”), dated March 30, 2023, with certain holders of our capital stock. Under our Investors’ Rights Agreement, certain holders of our capital stock have the right to demand
that we file a registration statement or request that their shares of our capital stock be covered by a registration statement that we
are otherwise filing. Pursuant to the Investors’ Rights Agreement, after the completion of this offering, certain holders of our common
stock will be entitled to rights with respect to the registration of their shares under the Securities Act.

Demand Registration
Rights

After the completion of this
offering, the holders of up to [ ] shares of our common stock will be entitled to certain demand registration rights. At the earlier
of (i) March 30, 2026 and (ii) 180 days from the effective date of this Registration Statement and upon the request of the holders of
at least 50% of Series A Preferred Stock and common stock issuable upon the conversion of the Series A Preferred Stock, and common stock
acquired by such holders after the date of the Investors’ Rights Agreement (the “Registrable Securities”), we will
be required register the offer and sale of at least 40% of the Registrable Securities then outstanding (or a lesser percent if the anticipated
aggregate public offering price (net of selling expenses) would exceed $10 million, subject to certain expenses

Piggyback Registration
Rights

After the completion
of this offering, if we propose to register the offer and sale of shares of our common stock under the Securities Act, in connection
with the public offering of such common stock, certain holders will be entitled to certain “piggyback” registration
rights under the Investors’ Rights Agreement, allowing such holders to include their shares in such registration, subject to
certain marketing and other limitations.

SHARES
ELIGIBLE FOR FUTURE SALE

Immediately
prior to this offering, there has been no market for our common stock, and a liquid trading market for our common stock may not develop
or be sustained after this offering. Future sales of substantial amounts of our common stock in the public market, or the perception
that such sales could occur, could adversely affect market prices prevailing from time to time and could impair our ability to raise
capital through the sale of our equity securities. Furthermore, because only a limited number of shares will be available for sale shortly
after this offering due to existing contractual and legal restrictions on resale as described below, there may be sales of substantial
amounts of our common stock in the public market after the restrictions lapse. This may adversely affect the prevailing market prices
for the shares of our common stock, and our ability to raise equity capital in the future.

Based
on the number of shares outstanding as of the date of this prospectus, upon the closing of this offering, approximately             shares of common
stock will be outstanding, assuming an initial public offering price of             per share (the mid-point of the price range set forth on the
cover page of this prospectus), offered hereby and further assuming no exercise of the underwriters’ over-allotment option. Of
the shares to be outstanding immediately after completion of this offering, all             shares sold in this offering will be freely tradable
except that any shares purchased in this offering by our affiliates, as that term is defined in Rule 144 under the Securities Act, would
only be able to be sold in compliance with the Rule 144 limitations described below.

All
of our existing stockholders prior to this offering, our officers and directors have entered into lock-up agreements under which they
have agreed, subject to specific exceptions, not to sell any of our stock for at least 180 days following the date of this prospectus,
as described below. As a result of these agreements, subject to the provisions of Rule 144 or Rule 701, shares will be available for
sale in the public market as follows:

●	beginning
on the date of this prospectus, all of the shares sold in this offering will be immediately
available for sale in the public market (except as described above); and

●	beginning
181 days after the date of this prospectus, additional shares will become eligible for sale
in the public market, of which shares will be held by affiliates and subject to the volume
and other restrictions of Rule 144, as described below.

Rule

general, under Rule 144 as currently in effect, beginning 90 days after the effective date of the registration statement of which this
prospectus is a part, any person who is not an affiliate of ours and has held their shares for at least six months, as measured by SEC
rule, including the holding period of any prior owner other than one of our affiliates, may sell shares without restriction, provided
current public information about us is available. In addition, under Rule 144, any person who is not an affiliate of ours and has held
their shares for at least one year, as measured by SEC rule, including the holding period of any prior owner other than one of our affiliates,
would be entitled to sell an unlimited number of shares immediately upon the closing of this offering without regard to whether current
public information about us is available. Beginning 90 days after the effective date of the registration statement of which this prospectus
is a part, a person who is an affiliate of ours and who has beneficially owned restricted securities for at least six months, as measured
by SEC rule, including the holding period of any prior owner other than one of our affiliates, is entitled to sell a number of restricted
shares within any three-month period that does not exceed the greater of:

of the number of shares of our common stock then outstanding, which will equal approximately [  ] shares immediately after
this offering; and