SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
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/forms-1a.htm

Chunk 36 of 94
Word Count: 1455
Character Count: 9117

Document Content:

, 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 7,943,927 shares of common stock being issued upon the closing of this offering in connection with the conversion of: (i) 1,302,950 shares of our existing Series A Preferred Stock into 1,302,950 shares of common stock (assuming an initial public offering price of at least $10.00 and an assumed conversion price of $10.00) and (ii) $12,797,898 of our existing convertible notes into 6,640,977 shares of our common stock (assuming an initial public offering price of at least $10.00 and an assumed conversion price of $10.00).

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 March 31, 2026
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.

the underwriters exercise their over-allotment option in full to purchase          additional shares of 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),
the pro forma as adjusted net tangible book value per share after this offering would be $           per share of common stock, the increase in
the pro forma as adjusted net tangible book value per share would be $           per share of common stock and the dilution to new investors purchasing
securities in this offering would be $           per share of common stock.

The
following table illustrates this dilution on a per share of common stock basis assuming the underwriters do not exercise any portion
of their over-allotment option and assuming the underwriters exercise their over-allotment option in full:

Offering
Without Over-Allotment Offering
With Over-Allotment

Assumed public offering price per share $ $

Historical net tangible book value (deficit) per share as of March

Increase in net tangible book value (deficit)
per share attributable to the pro forma adjustments described above $ $

Pro forma net tangible book value (deficit)
per share, as of March 31, 2026, before giving effect to this offering $ $

Increase in pro forma net tangible book value
(deficit) per share attributable to new investors in this offering $ $

Pro forma as adjusted net tangible book value
per share after giving effect to this offering $ $

Dilution per share to new investors in this
offering $ $

The
dilution information discussed above is illustrative only and may change based on the actual initial public offering price and other
terms of this offering.

Assuming
the underwriters’ over-allotment option is not exercised, 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)
our pro forma as adjusted net tangible book value after giving effect to this offering by $         , or by approximately $         per share of common
stock and the dilution to new investors purchasing our common stock in this offering by approximately $         per share, assuming the number
of shares offered by us remains the same and after deducting the estimated underwriting discount and estimated offering expenses payable
by us. In addition, to the extent any stock options that we granted to certain of our officers, directors, employees and permitted consultants,
new investors would experience further dilution.

The
following table illustrates our pro forma proportionate ownership, upon completion of this offering by present stockholders and investors
in this offering, compared to the relative amounts paid by each. The table reflects payment by present stockholders as of the date the
consideration was received and by investors in this offering at the public offering price. The table further assumes no changes in net
tangible book value other than those resulting from this offering.

Shares
Purchased Total
Consideration Average
Price

Number Percent
(%) Amount
($) Percent
(%) Per
Share ($)

Existing stockholders [  ] [  ]	% [  ] [  ]	% $	[  ]

New investors [  ] [  ]	% [  ] [  ]	% $	[  ]

Total [  ] 100	% [  ] [  ]	% $	[  ]

The
table above assumes no exercise of the underwriters’ over-allotment option to purchase additional shares in this offering. If the
underwriters’ over-allotment option to purchase additional shares is exercised in full, the number of shares of our common stock
held by existing stockholders would be reduced to               % of the total number of shares of our common stock outstanding after this offering,
and the number of shares of common stock held by new investors participating in this offering would be increased to % of the total number
of shares outstanding after this offering.

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 13,667,792 shares of our common stock outstanding as of March 31, 2026, which includes 7,943,927
shares of common stock being issued upon the closing of this offering in connection with the conversion of: (i) 1,302,950 shares
of our existing Series A Preferred Stock into 1,302,950 shares of common stock (assuming an initial public offering price of at
least $10.00 and an assumed conversion price of $10.00) and (ii) $12,797,898 of our existing convertible notes into 6,640,977
shares of our common stock (assuming an initial public offering price of at least $10.00 and an assumed conversion price of $10.00),
and excludes, as of the date of this prospectus:

●	shares
of common stock issuable upon the exercise of the Underwriters’ Warrants;

shares of our common stock reserved for issuance under stock option agreements issued pursuant to the 2024 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 the 2026 Equity Incentive Plan, which
will become effective as of the closing of this offering.

MANAGEMENT’S
DISCUSSION AND ANALYSIS OF FINANCIAL

CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis summarize the significant factors affecting our operating results, financial condition, liquidity and
cash flows of our company as of and for the periods presented below. The following discussion and analysis should be read in conjunction
with our financial statements and the related notes thereto included elsewhere in this prospectus. The discussion contains forward-looking
statements that are based on the beliefs of management, as well as assumptions made by, and information currently available to, our management.
Actual results could differ materially from those discussed in or implied by forward-looking statements as a result of various factors,
including those discussed below and elsewhere in this prospectus, particularly in the sections titled “Risk Factors” and
“Cautionary Statement Regarding Forward-Looking Statements”.

Overview

are a medical device company focused on developing, manufacturing and commercializing proprietary devices to restore left ventricular
function in heart failure patients with reduced ejection fraction (“HFrEF”).

Our lead device
program, the Revivent System, has a CE mark in Europe and is in its pivotal trial in the United States. In Europe (where we have
obtained approval but are currently not commercially operating in order to preserve capital) or through an authorized U.S. clinical site
(as we have not received FDA approval), heart failure specialists refer HFrEF patients with left ventricular dilation due to large anterior
heart attack scars to cardiac surgeons who elect to utilize our product to restore left ventricular function by reducing the size of
the left ventricle. The Revivent System accomplishes this reduction by folding the scar onto itself and fastening it together in a less
invasive mini-thoracotomy procedure.