SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-3.10
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/ex3-10.htm

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any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A-2 Preferred Stock. Payments to Holders of Common Stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, after the payment of all preferential amounts required to be paid to the holders of shares of Series A-2 Preferred Stock, the holders of shares of Series A-1 Preferred Stock, and the holders of shares of Series A Preferred Stock, the remaining assets of the Corporation available for distribution to its stockholders shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder. Deemed Liquidation Events. Definition. Each of the following events shall be considered a “Deemed Liquidation 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

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 the sale or disposition (whether by merger, consolidation or otherwise) of one 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 Subsection 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 shall be allocated among the holders of capital stock of the Corporation in accordance
with Subsections 2.1 and 2.2.

In the event of a Deemed Liquidation Event referred to in Subsection 2.3.1(a)(ii) or 2.3.1(b), if the Corporation does
not effect a dissolution of the Corporation under the DGCL within ninety (90) days after such Deemed Liquidation Event, then (i) the
Corporation shall send a written notice to each holder of Series A-2 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 Series A-2 Preferred Stock, and (iii) if the holders
of at least a majority of the then outstanding shares of Series A-2 Preferred Stock 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 Series A-2 Preferred Stock (on a pari passu basis with the Series A-1 Preferred Stock and the Series
A Preferred Stock) at a price per share equal to the Series A-2 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 Series
A-2 Preferred Stock, the Corporation shall ratably redeem each holder’s shares of Series A-2 Preferred Stock to the fullest extent
of such Available Proceeds, and shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions
to stockholders. Prior to the distribution or redemption provided for in this Subsection 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 paid or distributed to such holders by the Corporation or the acquiring person, firm or other entity.
The value of such property, rights or securities shall be determined in good faith by the Board of Directors of the Corporation.

Allocation of Escrow and Contingent Consideration. In the event of a Deemed Liquidation Event pursuant to Subsection 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 Subsections 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 Subsections 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 Subsection 2.3.4, consideration placed into escrow or
retained as holdback to be available for satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation
Event shall be deemed to be Initial Consideration.

Voting.

General. On any matter presented to the stockholders of the Corporation for their action or consideration at any meeting of stockholders
of the Corporation (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Series A-2 Preferred
Stock shall be entitled to cast the number of votes equal to the number of whole shares of Common Stock into which the shares of Series
A-2 Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter.
Except as provided by applicable law, holders of Series A-2 Preferred Stock shall vote together with the holders of Series A-1 Preferred
Stock, the holders of Series A Preferred Stock, and the holders of Common Stock as a single class.

Optional Conversion.

The
holders of the Series A-2 Preferred Stock shall have conversion rights as follows (the “Conversion Rights”):

Right to Convert.

Conversion Ratio. Each share of Series A-2 Preferred Stock shall be convertible, at the option of the holder thereof, at any time
and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and
non-assessable shares of Common Stock as is determined by dividing the Series A-2 Original Issue Price by the Series A-2 Conversion Price
(as defined below) in effect at the time of conversion. The “Series A-2 Conversion Price” shall initially be equal
to $5.00. Such initial Series A-2 Conversion Price, and the rate at which shares of Series A-2 Preferred Stock may be converted into
shares of Common Stock, shall be subject to adjustment as provided below.

Termination of Conversion Rights. In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation
Event, the Conversion Rights shall terminate at the close of 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-2 Preferred Stock.