SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
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/filename1.htm

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instruments, and U.S. government securities. addition, as a general matter, given our limited operating history, early stage of business and a new and unproven technology model, it is difficult to evaluate our business prospects and actual expenditures in the future. Further, our business plan will be very costly, far more costly than the net proceeds we will receive from this offering. To develop and implement our business as currently planned, we will need to raise substantial amounts of additional capital and we intend to raise such additional capital through public or private offerings of equity or equity-linked securities, traditional loans, commercial collaborations such as licenses or joint ventures and, if available or desirable, government funding, including grants. No assurances can be given that we will be able to raise additional capital when needed, and our inability to raise additional capital could lead to the failure of our company. DIVIDEND POLICY

have never declared or paid any cash dividends on our capital stock, and we do not anticipate paying any cash dividends in the foreseeable
future. The payment of dividends, if any, in the future is within the discretion of our board of directors and will depend on our earnings,
capital requirements and financial condition and other relevant facts. We currently intend to retain all future earnings, if any, to
finance the development and growth of our business.

CAPITALIZATION

The
following table sets forth our cash and equivalents and capitalization as of September 30, 2025:

an actual basis;

a pro forma basis to give effect to: the issuance of 7,558,068 shares of common stock upon the closing of this offering in connection
with the conversion of: (i) 1,565,000 shares of our existing Series A Preferred Stock into 1,565,000 shares of common stock and (ii)
$11,126,447 of our existing convertible notes into 5,993,068 shares of our common stock; and

a pro forma as adjusted basis to give effect to: (i) our issuance and sale of              shares of our common stock in this offering at the
assumed initial public offering price of $              per share (the midpoint of the estimated price range set forth on the cover page of this
prospectus) and (ii) the deduction of $              of underwriting discounts and $              of estimated offering expenses payable by us, assuming the
underwriters do not exercise any portion of their over-allotment option.

The
information set forth in the table below is illustrative only and will be adjusted based on the actual initial public offering price
and other terms of this offering as determined at pricing. You should read this table together with “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” and our audited financial statements and related notes and unaudited
interim condensed financial statements and related notes thereto included elsewhere in this prospectus.

of September 30, 2025

Actual Pro
Forma Pro
Forma As
Adjusted

Cash and cash equivalents $	1,958,867 $

Total liabilities 13,038,266

Stockholders’ Equity:

Preferred Stock: Par value of $0.0001 per share, 1,565,000 shares
issued and outstanding, actual; par value of $0.0001 per share, no shares issued and outstanding, pro forma and pro forma as
adjusted. 157

Common Stock: Par value of $0.0001 per share, 5,712,645 shares
issued and outstanding, actual; par value of $0.0001 per share, shares issued and outstanding, pro forma; par value of $0.0001 per
share           shares issued and outstanding, pro forma as adjusted. 571

Additional paid-in capital 218,646,960

Accumulated deficit (228,792,443	)

Total stockholders’ equity (10,144,755	)

Total capitalization $	2,893,511 $

The
number of shares of our common stock to be outstanding upon completion of this offering will be              shares
assuming no exercise of the over-allotment by the underwriters, which is based on 12,726,868 shares of our common stock outstanding as
of September 30, 2025, which includes 7,014,223 shares of common stock being issued upon the closing of this offering in connection with
the conversion of: (i) 1,565,000 shares of our existing Series A Preferred Stock into 1,565,000 shares of common stock and (ii) $9,490,670
of our existing convertible notes into 5,449,223 shares of our common stock, and excludes, as of the date of this prospectus:

●	shares of common stock issuable upon the exercise of the Representative’s Warrant;

shares of our common stock reserved for issuance under stock option agreements issued pursuant to 2024 Equity Incentive Plan;
and

shares of our common stock (which is equal to         % of our issued and outstanding common
stock immediately after the consummation this offering) reserved for future issuance under our 2025 Equity Incentive Plan, which
will become effective as of the closing of this offering.

Each
$1.00 increase (decrease) in the assumed initial public offering price of $        per share (the midpoint of the estimated price range set
forth on the cover page of this prospectus) would increase (decrease) the amount of cash, additional paid-in capital, total stockholders’
equity (deficit) and total capitalization on a pro forma as adjusted basis by approximately $          , assuming the number of shares, as set
forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and estimated offering expenses
payable by us. Similarly, each increase (decrease) of           shares offered by us would increase (decrease) cash, total stockholders’
equity (deficit) and total capitalization on a pro forma as adjusted basis by approximately $         , assuming the assumed initial public offering
price of $          per share (the midpoint of the estimated price range set forth on the cover page of this prospectus) remains the same, and
after deducting underwriting discounts and commissions and estimated offering expenses payable by us. The pro forma as adjusted information
discussed above is illustrative only and will be adjusted based on the actual public offering price and other terms of this offering
determined at pricing.

DILUTION

you purchase shares of our common stock in this offering, your interest will be diluted immediately to the extent of the difference
between the assumed initial public offering price of $          per share (the midpoint
of the estimated price range set forth on the cover page of this prospectus) and the pro forma as adjusted net tangible book value
per share of our common stock immediately upon the consummation of this offering. Net tangible book value per share of common stock
is determined by dividing our total tangible assets less total liabilities by the number of outstanding shares of our common stock.
As of September 30, 2025, we had a historical net tangible book value of $(10.1 million), or $(1.78) per share
of common stock. Our historical net tangible book value per share represented total tangible assets less total liabilities, divided
by 5,712,645 shares of our common stock outstanding as of September 30, 2025.

Our
pro forma net tangible book value as of September 30, 2025 was $        , or
$         per share of our common stock based on
shares of our common stock outstanding. Pro forma net tangible book value represents
the amount of our historical total tangible assets less our total liabilities, after giving effect to the issuance of
shares of common stock at a price of $ per share corresponding to a financing that
ended subsequent to            and the issuance of 7,558,068 shares of
common stock being issued upon the closing of this offering in connection with the conversion of: (i) 1,565,000 shares of our
existing Series A Preferred Stock into 1,565,000 shares of common stock and (ii) $11,126,447 of our existing convertible
notes into 5,993,068 shares of our common stock.

After
giving further effect to our sale of           shares of common stock in this offering
at an assumed initial public offering price of $          per share (the midpoint of
the estimated price range set forth on the cover page of this prospectus), and after deducting underwriters’ discounts and
estimated offering expenses, upon the completion of this offering, our pro forma as adjusted net tangible book value as of September
30, 2025 would have been $           , or $
per share of common stock. This represents an immediate increase in pro forma
net tangible book value of $           per share of common stock to existing
stockholders and an immediate dilution in net tangible book value of $           per
share to new investors of shares in this offering. We determine dilution by subtracting the pro forma as adjusted net tangible book
value per share after this offering from the public offering price that a new investor paid for a share of common stock in this
offering.