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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business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Series A-1 Preferred Stock. Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of the Series A-1 Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the fair market value of a share of Common Stock as determined in good faith by the Board of Directors of the Corporation. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Series A-1 Preferred Stock the holder is at the time converting into Common Stock and the aggregate number of shares of Common Stock issuable upon such conversion. Mechanics of Conversion.

Notice of Conversion. In order for a holder of Series A-1 Preferred Stock to voluntarily convert shares of Series A-1 Preferred
Stock into shares of Common Stock, such holder shall (a) provide written notice to the Corporation’s transfer agent at the office
of the transfer agent for the Series A-1 Preferred Stock (or at the principal office of the Corporation if the Corporation serves as
its own transfer agent) that such holder elects to convert all or any number of such holder’s shares of Series A-1 Preferred Stock
and, if applicable, any event on which such conversion is contingent and (b), if such holder’s shares are certificated, surrender
the certificate or certificates for such shares of Series A-1 Preferred Stock (or, if such registered holder alleges that such certificate
has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify
the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such
certificate), at the office of the transfer agent for the Series A-1 Preferred Stock (or at the principal office of the Corporation if
the Corporation serves as its own transfer agent). Such notice shall state such holder’s name or the names of the nominees in which
such holder wishes the shares of Common Stock to be issued. If required by the Corporation, any certificates surrendered for conversion
shall be endorsed or accompanied by a written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed
by the registered holder or his, her or its attorney duly authorized in writing. The close of business on the date of receipt by the
transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such notice and, if applicable, certificates
(or lost certificate affidavit and agreement) shall be the time of conversion (the “Conversion Time”), and the shares
of Common Stock issuable upon conversion of the specified shares shall be deemed to be outstanding of record as of such date. The Corporation
shall, as soon as practicable after the Conversion Time (i) issue and deliver to such holder of Series A-1 Preferred Stock, or to his,
her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable upon such conversion in accordance
with the provisions hereof and a certificate for the number (if any) of the shares of Series A-1 Preferred Stock represented by the surrendered
certificate that were not converted into Common Stock, (ii) pay in cash such amount as provided in Subsection 4.2 in lieu of any
fraction of a share of Common Stock otherwise issuable upon such conversion and (iii) pay all declared but unpaid cash dividends on the
shares of Series A-1 Preferred Stock converted.

Reservation of Shares. The Corporation shall at all times when the Series A-1 Preferred Stock shall be outstanding, reserve and
keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Series A-1 Preferred
Stock, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to effect the conversion of
all outstanding Series A-1 Preferred Stock; and if at any time the number of authorized but unissued shares of Common Stock shall not
be sufficient to effect the conversion of all then outstanding shares of the Series A-1 Preferred Stock, the Corporation shall take such
corporate action as may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall
be sufficient for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval
of any necessary amendment to the Corporation’s Certificate of Incorporation. Before taking any action which would cause an adjustment
reducing the Series A-1 Conversion Price below the then par value of the shares of Common Stock issuable upon conversion of the Series
A-1 Preferred Stock, the Corporation will take any corporate action which may, in the opinion of its counsel, be necessary in order that
the Corporation may validly and legally issue fully paid and non-assessable shares of Common Stock at such adjusted Series A-1 Conversion
Price.

Effect of Conversion. All shares of Series A-1 Preferred Stock which shall have been surrendered for conversion as herein provided
shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion
Time, except only the right of the holders thereof to receive shares of Common Stock in exchange therefor, to receive payment in lieu
of any fraction of a share otherwise issuable upon such conversion as provided in Subsection 4.2 and to receive payment of any
cash dividends declared but unpaid thereon. Any shares of Series A-1 Preferred Stock so converted shall be retired and cancelled and
may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder
action) as may be necessary to reduce the authorized number of shares of Series A-1 Preferred Stock accordingly.

No Further Adjustment. Upon any such conversion, no adjustment to the Series A-1 Conversion Price shall be made for any declared
but unpaid dividends on the Series A-1 Preferred Stock surrendered for conversion or on the Common Stock delivered upon conversion.

Taxes. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any issuance or delivery
of shares of Common Stock upon conversion of shares of Series A-1 Preferred Stock pursuant to this Section 4. The Corporation
shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery
of shares of Common Stock in a name other than that in which the shares of Series A-1 Preferred Stock so converted were registered, and
no such issuance or delivery shall be made unless and until the person or entity requesting such issuance has paid to the Corporation
the amount of any such tax or has established, to the satisfaction of the Corporation, that such tax has been paid.

Adjustment for Stock Splits and Combinations. If the Corporation shall at any time or from time to time after the Series A-1 Original
Issue Date effect a subdivision of the outstanding Common Stock, the Series A-1 Conversion Price in effect immediately before that subdivision
shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall
be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at
any time or from time to time after the Series A-1 Original Issue Date combine the outstanding shares of Common Stock, the Series A-1
Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of shares of Common
Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of
shares 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: