SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-3.1
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/ex3-1.htm

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Proceeds (as defined below), before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount per share equal to one (1) times the Original Issue Price, plus any dividends declared but unpaid thereon. If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Preferred Stock the full amount to which they shall be entitled under this Section 2.1, the holders of shares of Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

Distribution of Remaining Assets. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation,
after the payment in full of all Liquidation Amounts required to be paid to the holders of shares of Preferred Stock the remaining assets
of the Corporation available for distribution to its stockholders or, in the case of a Deemed Liquidation Event, the consideration not
payable to the holders of shares of Preferred Stock pursuant to Section 2.1 or the remaining Available Proceeds, as the case may
be, shall be distributed among the holders of the shares of Preferred Stock and Common Stock, pro rata based on the number of shares
held by each such holder, treating for this purpose all such securities as if they had been converted to Common Stock pursuant to the
terms of this Third Amended and Restated Certificate of Incorporation immediately prior to such liquidation, dissolution or winding up
of the Corporation. The aggregate amount which a holder of a share of Preferred Stock is entitled to receive under Sections 2.1
and 2.2 is hereinafter referred to as the “Liquidation Amount.”

Deemed Liquidation Events.

Definition. Each of the following events shall be considered a “Deemed Liquidation Event” unless the holders
of at least 60% of the outstanding shares of Preferred Stock (the “Requisite Holders”) elect otherwise by written
notice sent to the Corporation at least ten (10) days prior to the effective date of any such event:

a merger or consolidation in which

(i)	the
Corporation is a constituent party or

subsidiary of the Corporation is a constituent party and the Corporation issues shares of
its capital stock pursuant to such merger or consolidation,

except
any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding
immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock
that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1)
the surviving or resulting corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation
immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or

(1) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by
the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken
as a whole, or (2) the sale or disposition (whether by merger, consolidation or otherwise, and whether in a single transaction or a series
of related transactions) of one (1) or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and
its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license
or other disposition is to a wholly owned subsidiary of the Corporation.

Effecting a Deemed Liquidation Event.

The Corporation shall not have the power to effect a Deemed Liquidation Event referred to in Section 2.3.1(a)(i) unless the agreement
or plan of merger or consolidation for such transaction (the “Merger Agreement”) provides that the consideration payable
to the stockholders of the Corporation in such Deemed Liquidation Event shall be allocated to the holders of capital stock of the Corporation
in accordance with Sections 2.1 and 2.2.

In the event of a Deemed Liquidation Event referred to in Section 2.3.1(a)(ii) or 2.3.1(b), if the Corporation does not
effect a dissolution of the Corporation under the General Corporation Law within ninety (90) days after such Deemed Liquidation Event,
then (i) the Corporation shall send a written notice to each holder of Preferred Stock no later than the ninetieth (90th)
day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant
to the terms of the following clause (ii) to require the redemption of such shares of Preferred Stock, and (iii) if the Requisite Holders
so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation
Event, the Corporation shall use the consideration received by the Corporation for such Deemed Liquidation Event (net of any retained
liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors of the Corporation),
together with any other assets of the Corporation available for distribution to its stockholders, all to the extent permitted by
Delaware law governing distributions to stockholders (the “Available Proceeds”), on the one hundred fiftieth (150th)
day after such Deemed Liquidation Event, to redeem all outstanding shares of Preferred Stock at a price per share equal to the applicable
Liquidation Amount. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available
Proceeds are not sufficient to redeem all outstanding shares of Preferred Stock, the Corporation shall redeem a pro rata portion of each
holder’s shares of Preferred Stock to the fullest extent of such Available Proceeds, based on the respective amounts which would
otherwise be payable in respect of the shares to be redeemed if the Available Proceeds were sufficient to redeem all such shares, and
shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions to stockholders. The provisions
of Section 6 shall apply, with such necessary changes in the details thereof as are necessitated by the context, to the redemption
of the Preferred Stock pursuant to this Section 2.3.2(b). Prior to the distribution or redemption provided for in this Section
2.3.2(b), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge
expenses incurred in connection with such Deemed Liquidation Event or in the ordinary course of business.

Amount Deemed Paid or Distributed. The amount deemed paid or distributed to the holders of capital stock of the Corporation upon
any such merger, consolidation, sale, transfer, exclusive license, other disposition or redemption shall be the cash or the value of
the property, rights or securities to be paid or distributed to such holders pursuant to such Deemed Liquidation Event. The value of
such property, rights or securities shall be determined in good faith by the Board of Directors of the Corporation, including the approval
of at least one (1) Preferred Director (as defined herein).

Allocation of Escrow and Contingent Consideration. In the event of a Deemed Liquidation Event pursuant to Section 2.3.1(a)(i),
if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies
(the “Additional Consideration”), the Merger Agreement shall provide that (a) the portion of such consideration that
is not Additional Consideration (such portion, the “Initial Consideration”) shall be allocated among the holders of
capital stock of the Corporation in accordance with Sections 2.1 and 2.2 as if the Initial Consideration were the only
consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes payable to
the stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of
the Corporation in accordance with Sections 2.1 and 2.2 after taking into account the previous payment of the Initial Consideration
as part of the same transaction. For the purposes of this Section 2.3.4, consideration placed into escrow or retained as a holdback
to be available for satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be
deemed to be Additional Consideration.

Voting.