SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-10.8
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/ex10-8.htm

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split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 2.12(c)) be notated with a legend substantially in the following form: THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT. THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Section 2.12.

(c) The
holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions of this
Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration
statement under the Securities Act covering the proposed transaction or following the IPO, the transfer is made pursuant to SEC Rule
144, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer, provided
that no such notice shall be required in connection if the intended sale, pledge or transfer complies with SEC Rule 144. Each such notice
shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested
by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose
legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction
may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that
the proposed sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation by the
staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company
to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the
Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities
in accordance with the terms of the notice given by the Holder to the Company. The Company will not require such a notice, legal opinion
or “no action” letter (x) in any transaction in compliance with SEC Rule 144; or (y) in any transaction in which such Holder
distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that with respect to transfers
under the foregoing clause (y), each transferee agrees in writing to be subject to the terms of this Section 2.12. Each
certificate, instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except
if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Section 2.12(b), except that
such certificate instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder
and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act.

2.13 Termination
of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration
pursuant to Sections 2.1 or 2.2 shall terminate upon the earliest to occur of:

(a) the
closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, in which the consideration received
by the Investors in such Deemed Liquidation Event is in the form of cash and/or publicly traded securities, or if the Investors receive
registration rights from the acquiring company or other successor to the Company reasonably comparable to those set forth in this Section

(b) such
time after consummation of the IPO as SEC Rule 144 or another similar exemption under the Securities Act is available for the sale of
all of such Holder’s shares without limitation, during a three (3)-month period without registration (and without the requirement
for the Company to be in compliance with the current public information required under subsection (c)(1) of SEC Rule 144) and such Holder
(together with its “affiliates” determined under SEC Rule 144) holds less than one percent (1%) of the outstanding capital
stock of the Company;

(c) the
fifth 5th anniversary of the IPO (or such later date that is one hundred eighty (180) days following the expiration of all
deferrals of the Company’s obligations pursuant to Section 2 that remain in effect as of the fifth (5th) anniversary
of the consummation of the IPO).

3.	Information
Rights .

3.1 Delivery
of Financial Statements. The Company shall deliver to each Major Investor:

as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company (i) a
balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and a comparison between
(x) the actual amounts as of and for such fiscal year and (y) the comparable amounts for the prior year and as included in the
Budget (as defined in Section 3.1(e)) for such year, with an explanation of any material differences between such amounts and
a schedule as to the sources and applications of funds for such year, and (iii) a statement of stockholders’ equity as of the
end of such year, all such financial statements audited and certified by independent public accountants of nationally recognized
standing selected by the Company;

soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each fiscal year of the Company, unaudited
statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity
as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject
to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with GAAP);

soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each fiscal year of the Company, (i)
a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for
shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding
securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of
shares of issued stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit
the Major Investors to calculate their respective percentage equity ownership in the Company, and (ii) a stock ledger/registry showing
the holders of capital stock of the Company and all capital stock transfers of the Company within such quarter, each certified by the
chief financial officer or chief executive officer of the Company as being true, complete, and correct;

soon as practicable, but in any event within thirty (30) days after the end of each month, an unaudited income statement and statement
of cash flows for such month, and an unaudited balance sheet and statement of stockholders’ equity as of the end of such month,
all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments and
(ii) not contain all notes thereto that may be required in accordance with GAAP);

soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the next fiscal
year, prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months and, promptly
after prepared, any other budgets or revised budgets prepared by the Company (such budget and business plan that is approved by the Board
of Directors (including the vote of at least one (1) of the Preferred Directors then seated, the “Requisite Preferred Director
Vote”) is collectively referred to herein as the “Budget”);