SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-3.7
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/ex3-7.htm

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of Common Stock outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective. Adjustment for Certain Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series A-1 Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Series A-1 Conversion Price in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Series A-1 Conversion Price then in effect by a fraction:

the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date, and

the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of
such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend
or distribution.

Notwithstanding
the foregoing (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully
made on the date fixed therefor, the Series A-1 Conversion Price shall be recomputed accordingly as of the close of business on such
record date and thereafter the Series A-1 Conversion Price shall be adjusted pursuant to this subsection as of the time of actual payment
of such dividends or distributions; and (b) that no such adjustment shall be made if the holders of Series A-1 Preferred Stock simultaneously
receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they
would have received if all outstanding shares of Series A-1 Preferred Stock had been converted into Common Stock on the date of such
event.

Adjustments for Other Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series
A-1 Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive,
a dividend or other distribution payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect
of outstanding shares of Common Stock) or in other property and the provisions of Section 1 do not apply to such dividend or distribution,
then and in each such event the holders of Series A-1 Preferred Stock shall receive, simultaneously with the distribution to the holders
of Common Stock, a dividend or other distribution of such securities or other property in an amount equal to the amount of such securities
or other property as they would have received if all outstanding shares of Series A-1 Preferred Stock had been converted into Common
Stock on the date of such event.

Adjustment for Merger or Reorganization, etc. Subject to the provisions of Subsection 2.3, if there shall occur any reorganization,
recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Series A-1
Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by Subsections
4.4, 4.5 or 4.6), then, following any such reorganization, recapitalization, reclassification, consolidation or merger,
each share of Series A-1 Preferred Stock shall thereafter be convertible in lieu of the Common Stock into which it was convertible prior
to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of
the Corporation issuable upon conversion of one share of Series A-1 Preferred Stock immediately prior to such reorganization, recapitalization,
reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case, appropriate
adjustment (as determined in good faith by the Board of Directors of the Corporation) shall be made in the application of the provisions
in this Section 4 with respect to the rights and interests thereafter of the holders of the Series A-1 Preferred Stock, to the
end that the provisions set forth in this Section 4 (including provisions with respect to changes in and other adjustments of
the Series A-1 Conversion Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other
property thereafter deliverable upon the conversion of the Series A-1 Preferred Stock. For the avoidance of doubt, nothing in this Subsection
4.7 shall be construed as preventing the holders of Series A-1 Preferred Stock from seeking any appraisal rights to which they are
otherwise entitled under the DGCL in connection with a merger triggering an adjustment hereunder, nor shall this Subsection 4.7
be deemed conclusive evidence of the fair value of the shares of Series A-1 Preferred Stock in any such appraisal proceeding.

Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Series A-1 Conversion Price pursuant
to this Section 4, the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than
twenty (20) days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of
Series A-1 Preferred Stock a certificate setting forth such adjustment or readjustment (including the kind and amount of securities,
cash or other property into which the Series A-1 Preferred Stock is convertible) and showing in detail the facts upon which such adjustment
or readjustment is based. The Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder
of Series A-1 Preferred Stock (but in any event not later than twenty (20) days thereafter), furnish or cause to be furnished to such
holder a certificate setting forth (i) the Series A-1 Conversion Price then in effect, and (ii) the number of shares of Common Stock
and the amount, if any, of other securities, cash or property which then would be received upon the conversion of Series A-1 Preferred
Stock.

Notice of Record Date. In the event:

the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon
conversion of the Series A-1 Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution,
or to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive
any other security; or

of any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation
Event; or

of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then,
and in each such case, the Corporation will send or cause to be sent to the holders of the Series A-1 Preferred Stock a notice specifying,
as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution
or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation
or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such
other capital stock or securities at the time issuable upon the conversion of the Series A-1 Preferred Stock) shall be entitled to exchange
their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of
such exchange applicable to the Series A-1 Preferred Stock and the Common Stock. Such notice shall be sent at least ten (10) days prior
to the record date or effective date for the event specified in such notice.

Mandatory Conversion.