SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0001493152-26-023752
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226023752/forms-1a.htm

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to directors, officers or persons controlling our company pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. the event that a claim for indemnification against such liabilities (other than the payment of expenses incurred or paid by a director, officer or controlling person in a successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered herewith, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to the court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

have entered or will enter into, and intend to continue to enter into, separate indemnification agreements with our directors and officers
that may be broader than the specific indemnification provisions contained in the Delaware General Corporation Law. These indemnification
agreements generally require us, among other things, to indemnify our officers and directors against certain liabilities that may arise
by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct. These indemnification
agreements also generally require us to advance any expenses incurred by the directors or officers as a result of any proceeding against
them as to which they could be indemnified. These indemnification provisions and the indemnification agreements may be sufficiently broad
to permit indemnification of our officers and directors for liabilities, including reimbursement of expenses incurred, arising under
the Securities Act.

Item
15. Recent Sales of Unregistered Securities

During
the last three years, the Company has not issued unregistered securities to any person, except as described below. None of these transactions
involved any underwriters, underwriting discounts or commissions, except as specified below, or any public offering, and, unless otherwise
indicated below, the Company believes that each transaction was exempt from the registration requirements of the Securities Act by virtue
of Section 4(a)(2) thereof and/or Rule 506 of Regulation D promulgated thereunder, and/or Regulation S promulgated thereunder regarding
offshore offers and sales. All recipients had adequate access, though their relationships with the Company, to information about the
Company.

April
2022 Through August 2022 Series B Preferred Stock Financing

From
April 2022 through August 2022, the Company issued $10,000,000 of Series B Preferred Stock to accredited investors. As noted below, such
Series B Preferred Stock were later exchanged for Common Stock pursuant to the February 2023 recapitalization.

January
2023 Unsecured Convertible Note Financing

January 2023, the Company 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 the Company 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, the Company 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 preferred stock in the March 2023 Series A Preferred Stock Financing.

February
2023 Recapitalization

In February 2023, the Company
completed a recapitalization pursuant to which all of the Company’s then outstanding Common Stock, Series A Preferred Stock,
Series A-1 Preferred Stock, Series B Preferred Stock were exchanged for new shares of Common Stock of the Company, and
all of the Company’s outstanding Common Stock then 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 the Company at fair value. Additionally, substantially all of the Company’s then outstanding stock
options and warrants were exchanged for Common Stock.

March
2023 Series A Preferred Stock Financing

March 30, 2023, the Company consummated a Series A Preferred Stock financing (the “March 2023 Series A Preferred Stock
Financing”) pursuant to which the Company issued $15,650,000 of newly authorized Series A Preferred Stock (which amount
included the conversion of the $5,650,000 in principal amount of the Company’s then outstanding Unsecured Convertible Notes)
to accredited investors at the initial closing with the potential for issuance of up to $32,850,000 in additional Series A Preferred
Stock in subsequent closings if certain milestones were achieved by the Company on or before September 30, 2023. Such milestones
were not achieved by the Company. In connection with the March 2023 Series A Preferred Stock Financing, the Company amended and
restated its then existing Second Amended and Restated Certificate of Incorporation to read as set forth in its Third Amended and
Restated Certificate of Incorporation which amended and restated certificate provided for an immediate forward Common Stock split of
176.582 shares of Common Stock for each 1 share of outstanding Common Stock and set forth the rights, preferences, and privileges of
the newly authorized Series A Preferred Stock. Additionally, as part of the March 2023 Series A Preferred Stock Financing, the
Company entered into an Investors’ Rights Agreement, a Right of First Refusal and Co-Sale Agreement, and a Voting Agreement
with the holders of the Company’s Series A Preferred Stock and certain holders of the Company’s Common Stock. The Right
of First Refusal and Co-Sale Agreement and the Voting Agreement automatically terminate immediately prior to the closing of this
offering. Subsequent to the closing of the March 2023 Series A Preferred Stock Financing, the Company filed two amendments to its
Third Amended and Restated Certificate of Incorporation which amendments amended, reduced or eliminated several rights of the Series
A Preferred Stock, increased the authorized amount of Common Stock and Preferred Stock, and designated some of the authorized
Preferred Stock as Blank Check Preferred Stock. Upon the closing of this offering (assuming gross proceeds of $7,500,000 to the
Company in this offering), the Series A Preferred Stock is subject to mandatory conversion such that each outstanding share of
Series A Preferred Stock will automatically convert into shares of Common Stock at a conversion rate equal 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.

March
2024 Through August 2024 Series A Secured Convertible Note Financing

From
March 2024 through August 2024, we issued $3,000,000 in principal amount of secured convertible promissory notes (the “Series
A Secured Convertible Notes”) to accredited investors the repayment of which is secured by a grant of security interest in all
of our assets. We also issued shares of our Series A Preferred Stock to those purchasers that had purchased at least $50,000 in
principal amount of the Secured Convertible Notes on or before March 21, 2024 (the “Series A Sweetener Shares”). As part
of the Series A Secured Convertible Note financing, we repurchased from certain holders of Series A Preferred Stock the same amount
of Series A Preferred Stock shares as the amount of Series A Sweetener Shares that were issued to certain purchasers of the Series A
Secured Convertible Notes. The Series A Secured Convertible Notes accrue interest at the annual rate of 15% compounded quarterly and
have a maturity date of December 31, 2027. The Series A Secured Convertible Notes will automatically convert into shares of our
Series A Preferred Stock immediately prior to the closing of this offering (assuming gross proceeds of $7,500,000 to us in this
offering), which Series A Preferred Stock is 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 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.

October
2024 Through March 2026 Series A-1 Secured Convertible Note Financing