SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/forms-1a.htm

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accrued interest of each note shall be automatically converted into either (i) such equity securities sold in the Qualified Financing (equity financing of at least $20,000,000) a conversion price equal to the price paid per share for the equity securities paid by the investors in the Qualified Financing multiplied by 0.75, or (ii) Series A Preferred Stock of the Company at the price of $1.00 per share. Non-Qualified Financing Conversion – The outstanding principal and unpaid accrued interest of each note may, at the sole election of the noteholder, be converted into either (i) such equity securities sold in the Non-Qualified Financing (equity financing of at least $10,000,000) at a conversion price equal to the price paid per share for the equity securities paid by the investors in the Non-Qualified Financing multiplied by 0.75, or (ii) Series A Preferred Stock of the Company at the price of $1.0 per share.

Maturity
Conversion – If the closing of a Qualified Financing or a Non-Qualified has not occurred on or before the Maturity Date, then
the holder of each note shall elect either: (i) the Company pay the holder an amount equal to the sum of all accrued and unpaid interest
due plus (2) two times (2x) the outstanding principal balance; or (ii) the outstanding principal and unpaid accrued interest be converted
into Series A Preferred Stock at the price of $1.00 per share.

Corporate
Transaction Conversion – In the event of a Corporate Transaction the holder of each note may elect either: (i) the sum of all
accrued and unpaid interest due plus (2) two times (2x) the outstanding principal balance; or (ii) the outstanding principal and unpaid
accrued interest will convert, effective immediately prior to, but contingent upon, the consummation of such Corporate Transaction, into
Series A Preferred Stock at the price of $1.00 per share.

Qualified
IPO Conversion – In the event of a sale of shares of Common Stock of the Company in a Qualified IPO (at least $7,500,000 of
gross proceeds), each note shall automatically convert into shares of Series A Preferred Stock of the Company.

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

Series
A-1 Secured Convertible Notes

From
October 2024 through December 31, 2025, the Company issued $6,857,477 in principal amount of its secured convertible promissory notes
(the “Series A-1 Secured Convertible Notes”) to accredited investors the repayment of which is secured by a grant of security
interest in all of the Company’s assets which security interest is pari passu to the security interest granted to the Secured Convertible
Note holders. The Series A-1 Secured Convertible Notes accrue interest at the annual rate of 15% compounded quarterly and have a maturity
date of December 31, 2027. The aggregate limit of the Series A-1 Secured Convertible Notes that can be issued is $12,000,000.

The
conversion features of the Series A-1 Secured Convertible Notes are as follows:

Automatic
Conversion – The outstanding principal and unpaid accrued interest of each note shall be automatically converted into either
(i) such equity securities sold in the Qualified Financing (equity financing of at least $20 million) a conversion price equal to the
price paid per share for the equity securities paid by the investors in the Qualified Financing multiplied by 0.75, or (ii) Series A-1
Preferred Stock of the Company at the price of $3.33 per share.

Non-Qualified
Financing Conversion – The outstanding principal and unpaid accrued interest of each note may, at the sole election of the
noteholder, be converted into either (i) such equity securities sold in the Non-Qualified Financing (equity financing of at least $10
million) at a conversion price equal to the price paid per share for the equity securities paid by the investors in the Non-Qualified
Financing multiplied by 0.75, or (ii) Series A-1 Preferred Stock of the Company at the price of $3.33 per share.

Maturity
Conversion – If the closing of a Qualified Financing or a Non-Qualified has not occurred on or before the Maturity Date, then
the holder of each note shall elect either: (i) the Company pay the holder an amount equal to the sum of all accrued and unpaid interest
due plus two times the outstanding principal balance; or (ii) the outstanding principal and unpaid accrued interest be converted into
Series A-1 Preferred Stock at the price of $3.33 per share. Corporate Transaction Conversion – In the event of a Corporate
Transaction the holder of each note may elect either: (i) the sum of all accrued and unpaid interest due plus (2) two times (2x) the
outstanding principal balance; or (ii) the outstanding principal and unpaid accrued interest will convert, effective immediately prior
to, but contingent upon, the consummation of such Corporate Transaction, into Series A-1 Preferred Stock at the price of $3.33 per share.

Qualified
IPO Conversion – In the event of a Qualified IPO the outstanding principal and unpaid accrued
interest of each note will automatically convert into shares of Series A-1 Preferred Stock of the Company at the price of $3.33 per share.

While
the Company anticipates an automatic conversion of the convertible notes due to achieving a Qualified Financing or Qualified IPO prior
to maturity, a derivative liability of $1,349,735 has been recorded as the fair value of the possibility the notes will fully mature.
See Note 3.

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

Note
6 – Obligation for intellectual property:

The
Company has licensed certain patents to be used in the development of future products. Certain licensing agreements provide for minimum
payments as well as royalties on future net sales. An agreement entered into by the Company requires a payment of $50,000 within 60 days
of the first commercial sale by the Company of any product capable of treating a heart by drawing heart walls together. In addition to
the minimum payment above, the licensing agreement also provides for the payment of a royalty due on the sale of products at 3% of net
sales, as defined in the agreement. The Company terminated the licensing agreement in October 2025 and has liability a balance of $140,213
and at December 31, 2024, and 2023. No royalty expense for this agreement was recorded during the years ended December 31, 2025 and 2024.

Note
7 – Related party transactions:

February 2024, two members of the Board of Directors and entities controlled by them purchased 650,000 Preferred Series A shares from
other investors. The directors subsequently sold 195,780 of these shares to the Company at cost to be used as incentive for certain purchasers
of Series A Secured Convertible Notes (the “Sweetener Shares”). The Company acquired an additional 30,120 Preferred Series
A shares from an investor for a total of 225,900 Sweetener Shares. See Note 9.

March 2024, a member of the Board of Directors and entities controlled by him purchased $1,830,000
Series A Secured Convertible Notes from the Company. See Note 5.

April 2024, the Company issued 225,900 Sweetener Shares to certain purchasers of Series A Secured Convertible Notes. An entity controlled
by a member of the Board of Directors received 148,400 of the Sweetener Shares related to his $1,830,000 purchase of notes in March 2024.
See Note 9.

April 2024, the Company issued 216,000 restricted stock awards to two officers of the Company. These awards fully vested, resulting in
$172,800 of stock-based compensation expense recorded in 2024. See Note 9.

September 2024, the Company issued 88,000 restricted stock awards to two officers of the Company of which 51,300 vested, resulting in
$41,064 of stock-based compensation expense recorded in 2024. The remaining 36,670 restricted stock awards vested in May 2025. See Note

January 2025, the Company issued 413,000 incentive stock options to two officers of the Company of which 103,250 vested, resulting in
$39,952 of stock-based compensation expense recorded in 2025. The remaining 309,750 stock options will vest monthly through December
2028. See Note 9.

October 2025, the Company issued 150,000 incentive stock options to two officers of the Company of which 9,375 vested, resulting in $5,581
of stock-based compensation expense recorded in 2025. The remaining 140,625 stock options will vest monthly through September 2029. See
Note 9.

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

October 2025, the Company issued 25,000 non-qualified stock options to one officer of the Company of which 1,563 vested, resulting in
$930 of stock-based compensation expense recorded in 2025. The remaining 23,437 stock options will vest monthly through September 2029.
See Note 9.

October 2025, the Company issued 90,000 non-qualified stock options to three members of the Company’s board of directors of which
5,625 vested, resulting in $3,348 of stock-based compensation expense recorded in 2025. The remaining 84,375 stock options will vest
monthly through September 2029. See Note 9.

Note
8 – Income taxes: