SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-3.1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/ex3-1.htm

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original issue of such Option or Convertible Security (or upon the occurrence of a record date with respect thereto) shall be readjusted to such Conversion Price as would have obtained had such revised terms been in effect upon the original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this clause (b) shall have the effect of increasing the Conversion Price to an amount which exceeds the lower of (i) the Conversion Price in effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Conversion Price that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such Option or Convertible Security) between the original adjustment date and such readjustment date.

If the terms of any Option or Convertible Security (excluding Options or Convertible Securities which are themselves Exempted Securities),
the issuance of which did not result in an adjustment to the Conversion Price pursuant to the terms of Section 4.4.4 (either because
the consideration per share (determined pursuant to Section 4.4.5) of the Additional Shares of Common Stock subject thereto was
equal to or greater than the Conversion Price then in effect, or because such Option or Convertible Security was issued before the Original
Issue Date), are revised after the Original Issue Date as a result of an amendment to such terms or any other adjustment pursuant to
the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or
similar provisions of such Option or Convertible Security) to provide for either (1) any increase in the number of shares of Common Stock
issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration
payable to the Corporation upon such exercise, conversion or exchange, then such Option or Convertible Security, as so amended or adjusted,
and the Additional Shares of Common Stock subject thereto (determined in the manner provided in Section 4.4.3(a) shall be deemed
to have been issued effective upon such increase or decrease becoming effective.

Upon the expiration or termination of any unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof)
which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Conversion Price pursuant
to the terms of Section 4.4.4, the Conversion Price shall be readjusted to such Conversion Price as would have obtained had such
Option or Convertible Security (or portion thereof) never been issued.

If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security,
or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is calculable at the time such Option
or Convertible Security is issued or amended but is subject to adjustment based upon subsequent events, any adjustment to the Conversion
Price provided for in this Section 4.4.3 shall be effected at the time of such issuance or amendment based on such number of shares
or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent adjustments shall be treated
as provided in clauses (b) and (c) of this Section 4.4.3). If the number of shares of Common Stock issuable upon
the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon
such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended,
any adjustment to the Conversion Price that would result under the terms of this Section 4.4.3 at the time of such issuance or
amendment shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject
to subsequent adjustments), assuming for purposes of calculating such adjustment to the Conversion Price that such issuance or amendment
took place at the time such calculation can first be made.

Adjustment of Conversion Price Upon Issuance of Additional Shares of Common Stock. In the event the Corporation shall at any time
after the Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued
pursuant to Section 4.4.3), without consideration or for a consideration per share less than the Conversion Price in effect immediately
prior to such issuance or deemed issuance, then the Conversion Price shall be reduced, concurrently with such issue, to a price (calculated
to the nearest one-hundredth of a cent) determined in accordance with the following formula:

For
purposes of the foregoing formula, the following definitions shall apply:

“CP2” shall mean the Conversion Price in effect immediately after such issuance or deemed issuance of Additional
Shares of Common Stock

“CP1” shall mean the Conversion Price in effect immediately prior to such issuance or deemed issuance of Additional
Shares of Common Stock;

“A” shall mean the number of shares of Common Stock outstanding immediately prior to such issuance or deemed issuance of
Additional Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options
outstanding immediately prior to such issuance or deemed issuance or upon conversion or exchange of Convertible Securities (including
the Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue);

“B” shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of Common Stock
had been issued or deemed issued at a price per share equal to CP1 (determined by dividing the aggregate consideration received
by the Corporation in respect of such issue by CP1); and

“C” shall mean the number of such Additional Shares of Common Stock issued in such transaction.

Determination of Consideration. For purposes of this Section 4.4, the consideration received by the Corporation for the
issuance or deemed issuance of any Additional Shares of Common Stock shall be computed as follows:

Cash and Property. Such consideration shall:

(i)	insofar
as it consists of cash, be computed at the aggregate amount of cash received by the Corporation,
excluding amounts paid or payable for accrued interest;

(ii)	insofar
as it consists of property other than cash, be computed at the fair market value thereof
at the time of such issue, as determined in good faith by the Board of Directors of the Corporation;
and

(iii)	in
the event Additional Shares of Common Stock are issued together with other shares or securities
or other assets of the Corporation for consideration which covers both, be the proportion
of such consideration so received, computed as provided in clauses (i) and (ii)
above, as determined in good faith by the Board of Directors of the Corporation.

Options and Convertible Securities. The consideration per share received by the Corporation for Additional Shares of Common Stock
deemed to have been issued pursuant to Section 4.4.3, relating to Options and Convertible Securities, shall be determined by dividing:

(i)	The
total amount, if any, received or receivable by the Corporation as consideration for the
issue of such Options or Convertible Securities, plus the minimum aggregate amount of additional
consideration (as set forth in the instruments relating thereto, without regard to any provision
contained therein for a subsequent adjustment of such consideration) payable to the Corporation
upon the exercise of such Options or the conversion or exchange of such Convertible Securities,
or in the case of Options for Convertible Securities, the exercise of such Options for Convertible
Securities and the conversion or exchange of such Convertible Securities, by

(ii)	the
maximum number of shares of Common Stock (as set forth in the instruments relating thereto,
without regard to any provision contained therein for a subsequent adjustment of such number)
issuable upon the exercise of such Options or the conversion or exchange of such Convertible
Securities, or in the case of Options for Convertible Securities, the exercise of such Options
for Convertible Securities and the conversion or exchange of such Convertible Securities.

Multiple Closing Dates. In the event the Corporation shall issue on more than one date Additional Shares of Common Stock that
are a part of one transaction or a series of related transactions and that would result in an adjustment to the Conversion Price pursuant
to the terms of Section 4.4.4,then, upon the final such issuance, the Conversion Price shall be readjusted to give effect to all
such issuances as if they occurred on the date of the first such issuance (and without giving effect to any additional adjustments as
a result of any such subsequent issuances within such period).