SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: EX-3.1
Date Filed: 2025-12-12
Accession Number: 0001493152-25-027406
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225027406/filename2.htm

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additional shares of Common Stock, then and in each such event the Conversion Price in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.

Notwithstanding
the foregoing, (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully
made on the date fixed therefor, the Conversion Price shall be recomputed accordingly as of the close of business on such record date
and thereafter the Conversion Price shall be adjusted pursuant to this Section as of the time of actual payment of such dividends or
distributions; and (b) that no such adjustment shall be made if the holders of Preferred Stock simultaneously receive a dividend or other
distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding
shares of Preferred Stock had been converted into Common Stock on the date of such event.

4.7 Adjustments
for Other Dividends and Distributions. In the event the Corporation at any time or from time to time after the Original Issue Date
shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution
payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common
Stock) or in other property and the provisions of Section 1 do not apply to such dividend or distribution, then and in each such
event the holders of Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or
other distribution of such securities or other property in an amount equal to the amount of such securities or other property as they
would have received if all outstanding shares of Preferred Stock had been converted into Common Stock on the date of such event.

4.8 Adjustment
for Merger or Reorganization, etc. Subject to the provisions of Section 2.1, if there shall occur any reorganization, recapitalization,
reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Preferred Stock) is converted
into or exchanged for securities, cash or other property (other than a transaction covered by Sections 4.6 or 4.7), then,
following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Preferred Stock shall thereafter
be convertible in lieu of the Common Stock into which it was convertible prior to such event into the kind and amount of securities,
cash or other property which a holder of the number of shares of Common Stock of the Corporation issuable upon conversion of one (1)
share of Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would
have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by
the Board of Directors of the Corporation) shall be made in the application of the provisions in this Section 4 with respect to
the rights and interests thereafter of the holders of the Preferred Stock, to the end that the provisions set forth in this Section
4 (including provisions with respect to changes in and other adjustments of the Conversion Price) shall thereafter be applicable,
as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Preferred
Stock.

4.9 Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price pursuant to this Section 4,
the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than ten (10) days thereafter,
compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Preferred Stock a certificate
setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other property into which the Preferred
Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The Corporation shall, as
promptly as reasonably practicable after the written request at any time of any holder of Preferred Stock (but in any event not later
than ten (10) days thereafter), furnish or cause to be furnished to such holder a certificate setting forth (i) the Conversion Price
then in effect, and (ii) the number of shares of Common Stock and the amount, if any, of other securities, cash or property which then
would be received upon the conversion of Preferred Stock.

4.10 Notice
of Record Date. In the event:

(a) the
Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion
of the Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any
right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security;

any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation
Event; or

the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then,
and in each such case, the Corporation will send or cause to be sent to the holders of the Preferred Stock a notice specifying, as the
case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution
or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation
or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such
other capital stock or securities at the time issuable upon the conversion of the Preferred Stock) shall be entitled to exchange their
shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of
such exchange applicable to the Preferred Stock and the Common Stock. Such notice shall be sent at least ten (10) days prior to the record
date or effective date for the event specified in such notice.

5. Mandatory
Conversion.

5.1 Triggering
Events. Upon the closing of the sale of shares of Common Stock to the public at a price of at least $30.00 per share (subject to
appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to
the Common Stock), in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities
Act of 1933, as amended, resulting in at least $100,000,000 of gross proceeds, net of the underwriting discount and commissions, to the
Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market’s National Market,
the New York Stock Exchange or another exchange or marketplace approved the Board of Directors, including the approval of at least one
(1) Preferred Director (the time of such closing or the date and time specified or the time of the event specified in such approval is
referred to herein as the “Mandatory Conversion Time”), then (i) all outstanding shares of Preferred Stock shall automatically
be converted into shares of Common Stock, at the then effective conversion rate as calculated pursuant to Section 4.1.1 and (ii)
such shares may not be reissued by the Corporation.