SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-10-06
Accession Number: 0001493152-25-016953
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225016953/filename1.htm

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issued an additional Unsecured Convertible Note in the principal amount of $2,650,000. The aggregate outstanding amount of $5,650,000 was later converted into preferred stock in the March 2023 Series A Preferred Stock Financing. February 2023 Recapitalization February 2023, the Company completed a recapitalization pursuant to which all of the Company’s then outstanding Series A Preferred Stock, Series A-1 Preferred Stock and Series B Preferred Stock were converted into shares of Common Stock and all of the Company’s then outstanding Common Stock underwent a reverse Common Stock split of 1 share of Common Stock share for each 65,500 shares of Common Stock with any fractional shares of Common Stock existing immediately after the reverse Common Stock split being purchased in cash by the Company at fair value. Additionally, substantially all of the Company’s then outstanding stock options and warrants were exchanged for Common Stock. March 2023 Series A Preferred Stock Financing

March 30, 2023, the Company consummated a Series A Preferred Stock financing (the “March 2023 Series A Preferred Stock Financing”)
pursuant to which the Company issued $15,650,000 of newly authorized Series A Preferred Stock (which amount included the conversion of
the $5,650,000 in principal amount of the Company’s then outstanding Unsecured Convertible Notes) to accredited investors at the
initial closing with the potential for issuance of up to $32,850,000 in additional Series A Preferred Stock in subsequent closings if
certain milestones were achieved by the Company on or before September 30, 2023. Such milestones were not achieved by the Company. In
connection with the March 2023 Series A Preferred Stock Financing, the Company amended and restated its then existing Second Amended
and Restated Certificate of Incorporation to read as set forth in its Third Amended and Restated Certificate of Incorporation which amended
and restated certificate provided for an immediate forward Common Stock split of 176.582 shares of Common Stock for each 1 share of outstanding
Common Stock and set forth the rights, preferences, and privileges of the newly authorized Series A Preferred Stock. Additionally, as
part of the March 2023 Series A Preferred Stock Financing, the Company entered into an Investors’ Rights Agreement, a Right of
First Refusal and Co-Sale Agreement, and a Voting Agreement with the holders of the Company’s Series A Preferred Stock and certain
holders of the Company’s Common Stock. The Right of First Refusal and Co-Sale Agreement and the Voting Agreement automatically
terminate immediately prior to the closing of this offering. Subsequent to the closing of the March 2023 Series A Preferred Stock Financing,
the Company filed two amendments to its Third Amended and Restated Certificate of Incorporation which amendments amended, reduced or
eliminated several rights of the Series A Preferred Stock, increased the authorized amount of Common Stock and Preferred Stock, and designated
some of the authorized Preferred Stock as Blank Check Preferred Stock. Upon the closing of this offering (assuming gross proceeds of
$7,500,000 to the Company in this offering), the Series A Preferred Stock is subject to mandatory conversion such that each outstanding
share of Series A Preferred Stock will automatically convert into shares of Common Stock at a conversion rate equal to the greater of
(A) the then effective conversion rate as calculated pursuant to Section 5 of the Third Amended and Restated Certificate of Incorporation,
as amended or (B) the original issue price of the Series A Preferred Stock divided by the price per share of the Common Stock issued
in this offering.

March
2024 Through August 2024 Series A Secured Convertible Note Financing

From
March 2024 through August 2024, we issued $3,000,000 in principal amount of secured convertible promissory notes (the “Series
A Secured Convertible Notes”) to accredited investors the repayment of which is secured by a grant of security interest in
all of our assets. We also issued shares of our Series A Preferred Stock to those purchasers that had purchased
at least $50,000 in principal amount of the Secured Convertible Notes on or before March 21, 2024 (the “Series A Sweetener Shares”).
As part of the Series A Secured Convertible Note financing, we repurchased from certain holders of Series A Preferred Stock
the same amount of Series A Preferred Stock shares as the amount of Series A Sweetener Shares that were issued to certain purchasers
of the Series A Secured Convertible Notes. The Series A Secured Convertible Notes accrue interest at the annual rate
of 15% compounded quarterly and have a maturity date of December 31, 2027. The Series A Secured Convertible Notes will automatically
convert into shares of our Series A Preferred Stock immediately prior to the closing of this offering (assuming gross proceeds
of $7,500,000 to us in this offering), which Series A Preferred Stock is then subject to immediate mandatory conversion into Common
Stock at a conversion rate equal to the greater of (A) the then effective conversion rate as calculated pursuant to Section 5of
the Third Amended and Restated Certificate of Incorporation, as amended or (B) the original issue price of the Series A Preferred Stock
divided by the price per share of the Common Stock issued in this offering.

October
2024 Through September 2025 Series A-1 Secured Convertible Note Financing

From
October 2024 through September 2025, we issued $4,872,600 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 our 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. As part of the Series A-1 Secured Convertible Note financing, we filed a Certificate
of Designations of the Rights, Preferences and Privileges of Series A-1 Preferred Stock which designated a new Series A-1 Preferred Stock
from its authorized Blank Check Preferred Stock. The Series A-1 Secured Convertible Notes automatically convert into shares of Series
A-1 Preferred Stock at the conversion price of $3.33 per share immediately prior to the closing of this Offering (assuming gross proceeds
of $7,500,000 to us in this offering), which shares of Series A-1 Preferred Stock are then subject to immediate mandatory conversion
into Common Stock at a conversion rate equal to the greater of (A) the then effective conversion rate as calculated pursuant to Section
5 of the Certificate of Designations of Rights, Preferences and Privileges of Series A-1 Preferred Stock or (B) three times (3x) the
original issue price of the Series A Preferred Stock divided by the price per share of the Common Stock issued in this offering.

Item
16. Exhibits

The
following is a list of exhibits filed as a part of this registration statement:

Exhibit
Number Description
of Document

1.1* Form
of Underwriting Agreement

3.1 Third Amended and Restated Certificate of Incorporation of BioVentrix, Inc.

3.2 Amendment No. 1 to Third Amended and Restated Certificate of Incorporation of BioVentrix, Inc.

3.3 Amendment No. 2 to Third Amended and Restated Certificate of Incorporation of BioVentrix, Inc.

3.4 Amendment No. 3 to Third Amended and Restated Certificate of Incorporation of BioVentrix, Inc.

3.5* Fourth
Amended and Restated Certificate of Incorporation of BioVentrix, Inc., to be in effect upon the consummation of the initial public
offering

3.6 Bylaws of BioVentrix, Inc.

3.7 Certificate of Designations of the Series A-1 Preferred Stock

3.8 Certificate of First Amendment of Certificate of Designations of the Rights, Preferences and Privileges of the Series A-1 Preferred Stock

4.1* Form
of Representative’s Warrant

5.1* Opinion
of Ellenoff Grossman & Schole LLP

10.1* Form
of Indemnification Agreement

10.2 2024 Equity Incentive Plan

Equity Incentive Plan

10.4* Form of Employment Agreement

10.5 Lease between BioVentrix, Inc. and Brickman Forbes Boulevard LLC

14.1* Form
of Code of Ethics of BioVentrix, Inc.

21.1* List
of Subsidiaries

23.1* Consent
of M&K CPAS PLLC, Independent Registered Public Accounting Firm

23.2* Consent
of Ellenoff Grossman & Schole LLP (contained in Exhibit 5.1)

24.1* Powers of Attorney (included on signature page to Registration Statement filed [●])

99.1* Form
of Audit Committee Charter

99.2* Form
of Compensation Committee Charter

99.3* Form
of Nominating and Corporate Governance Committee Charter

99.4* Consent
of Mark Ravich to be named as a director.

99.5* Consent
of Rishi Puri to be named as a director.

99.6* Consent
of William Abraham to be named as a director.

107* Filing
Fee Table

be filed by amendment.

Item
17. Undertakings

The
undersigned registrant hereby undertakes:

file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

include any prospectus required by section 10(a)(3) of the Securities Act of 1933;