SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-10-06
Accession Number: 0001493152-25-016953
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225016953/filename1.htm

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meeting and not later than the later of (x) the close of business on the 90th day before the meeting or (y) the close of business on the 10th day following the day on which public announcement of the date of the annual meeting was first made by the Corporation; and (ii) in the case of a special meeting of stockholders called for the purpose of electing directors, not later than the close of business on the 10th day following the day on which public announcement of the date of the special meeting is first made by the Corporation. In no event shall the public announcement of an adjournment or postponement of an annual meeting or special meeting commence a new time period (or extend any time period) for the giving of a stockholder’s notice. Our Bylaws also specify requirements as to the form and content of a stockholder’s notice.

Stockholder
Action by Written Consent

Pursuant
to Section 228 of the DGCL, any action required to be taken at any annual or special meeting of the stockholders may be taken without
a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, is or are
signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take
such action at a meeting at which all shares of our stock entitled to vote thereon were present and voted. Pursuant to our Bylaws, any
action required to be taken at any annual or special meeting of stockholders, or any action which may be taken at any annual or special
meeting of such stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting
forth the action so taken, shall be signed by the holders of outstanding stock entitled to vote thereon having not less than the minimum
number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were
present and voted, and shall be delivered to the Corporation by delivery to its registered office in the State of Delaware, its principal
place of business, or an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders
are recorded.

Elimination
of Monetary Liability for Officers and Directors

Our
Amended and Restated COI incorporates certain provisions permitted under the Delaware General Corporation Law relating to the liability
of directors. The provisions eliminate a director’s liability for monetary damages for a breach of fiduciary duty, including gross
negligence, except in circumstances involving certain wrongful acts, such as the breach of director’s duty of loyalty or acts or
omissions, which involve intentional misconduct or a knowing violation of law. These provisions do not eliminate a director’s duty
of care. Moreover, these provisions do not apply to claims against a director for certain violations of law, including knowing violations
of federal securities law. Our Amended and Restated COI also contains provisions to indemnify the directors, officers, employees or other
agents to the fullest extent permitted by the Delaware General Corporation Law. We believe that these provisions will assist us in attracting
and retaining qualified individual to serve as directors.

Indemnification
of Officers and Directors

Our
Amended and Restated COI contains provisions to indemnify the directors, officers, employees or other agents to the fullest extent permitted
by the Delaware General Corporation Law. These provisions may have the practical effect in certain cases of eliminating the ability of
stockholders to collect monetary damages from directors. We are also a party to indemnification agreements with each of our directors
and officers. We believe that these provisions will assist us in attracting or retaining qualified individuals to serve as our directors
and officers.

Disclosure
of Commission Position on Indemnification for Securities Act Liabilities

Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons
pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is, therefore, unenforceable.

Listing

intend to apply to have our common stock listed on Nasdaq under the symbol “BVXX”.

History
of Securities Issuances

During
the past three years, we issued securities that were not registered under the Securities Act as set forth below. The following is a summary
of transactions from our inception until the date of this prospectus involving issuance of our securities that were not registered under
the Securities Act. The offers, sales and issuances of the securities described below were exempt from registration either (i) under
Section 4(a)(2) of the Securities Act and the rules and regulations promulgated thereunder in that the transactions were between an issuer
and sophisticated investors, initial purchasers or members of the issuer’s senior executive management and did not involve any
public offering within the meaning of Section 4(a)(2), (ii) under Regulation S promulgated under the Securities Act in that offers, sales
and issuances were not made to persons in the United States and no directed selling efforts were made in the United States, (iii) under
Rule 144A under the Securities Act in that the securities were offered and sold by the initial purchasers to persons reasonably believed
to be qualified institutional buyers, and/or (iv) under Rule 701 promulgated under the Securities Act in that the transactions were under
compensatory benefit plans and contracts relating to compensation.

April
2022 Through August 2022 Series B Preferred Stock Financing

From
April 2022 through August 2022, we issued $10,000,000 of Series B Preferred Stock to accredited investors. As noted below, such
Series B Preferred Stock were later converted into common stock pursuant to the February 2023 recapitalization.

January
2023 Unsecured Convertible Note Financing

January 2023, we issued $3,000,000 in principal amount of its unsecured convertible promissory notes (the “Unsecured Convertible
Notes”) to accredited investors which $3,000,000 principal amount included the exchange of $1,000,000 in principal amount of its
then outstanding unsecured short-term promissory notes for $1,000,000 in principal amount of Unsecured Convertible Notes. The Unsecured
Convertible Notes accrue interest at an annual rate of 10%, had a maturity date of June 30, 2023, and the principal amount automatically
converts into the type of securities issued by us in a subsequent equity financing of at least $10,000,000 in gross proceeds at
the price per share paid by investors in the equity financing. A cash fee of 1.5% of the principal amount of the Unsecured Convertible
Note is also due on the earlier of the conversion of the Unsecured Convertible Note or the maturity date of the Unsecured Convertible
Note. On March 21, 2023, we issued an additional Unsecured Convertible Note in the principal amount of $2,650,000. The aggregate
outstanding amount of $5,650,000 was later converted into 565,000 shares of Series A Preferred Stock in the March 2023 Series A Preferred
Stock Financing.

February
2023 Recapitalization

In February 2023,
we completed a recapitalization pursuant to which all of our then outstanding Series A Preferred Stock, Series A-1 Preferred
Stock and Series B Preferred Stock were converted into shares of Common Stock and all of our then outstanding Common Stock underwent
a reverse Common Stock split of 1 share of Common Stock share for each 65,500 shares of Common Stock with any fractional shares of Common
Stock existing immediately after the reverse Common Stock split being purchased in cash by us at fair value. Additionally, substantially
all of our then outstanding stock options and warrants were exchanged for Common Stock.

March
2023 Series A Preferred Stock Financing