SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-3.7
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/ex3-7.htm

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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 Subsection 4.4.3(a) shall be deemed to have been issued effective upon such increase or decrease becoming effective. (d) 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 Series A-1 Conversion Price pursuant to the terms of Subsection 4.4.4, the Series A-1 Conversion Price shall be readjusted to such Series A-1 Conversion Price as would have obtained had such Option or Convertible Security (or portion thereof) never been issued.

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 Series A-1
Conversion Price provided for in this Subsection 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 Subsection 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 Series A-1 Conversion Price that would result under the terms of this Subsection 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 Series A-1 Conversion
Price that such issuance or amendment took place at the time such calculation can first be made.

4.4.4 Adjustment
of Series A-1 Conversion Price Upon Issuance of Additional Shares of Common Stock. In the event the Corporation shall at any time
after the Series A-1 Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed
to be issued pursuant to Subsection 4.4.3), without consideration or for a consideration per share less than the Series A-1 Conversion
Price in effect immediately prior to such issue, then the Series A-1 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:

shall mean the Series A-1 Conversion Price in effect immediately after such issue of Additional Shares of Common Stock

shall mean the Series A-1 Conversion Price in effect immediately prior to such issue of Additional Shares of Common Stock;

shall mean the number of shares of Common Stock outstanding immediately prior to such issue 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 issue
or upon conversion or exchange of Convertible Securities (including the Series A-1 Preferred Stock) outstanding (assuming exercise of
any outstanding Options therefor) immediately prior to such issue);

shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of Common Stock had been 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

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

4.4.5 Determination
of Consideration. For purposes of this Subsection 4.4, the consideration received by the Corporation for the issue of any
Additional Shares of Common Stock shall be computed as follows:

(a) 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.

(b) 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 Subsection 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.

4.4.6 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 Series A-1 Conversion Price pursuant
to the terms of Subsection 4.4.4, and such issuance dates occur within a period of no more than ninety (90) days from the first
such issuance to the final such issuance, then, upon the final such issuance, the Series A-1 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).

4.5 Adjustment
for Stock Splits and Combinations. If the Corporation shall at any time or from time to time after the Series A-1 Original Issue
Date effect a subdivision of the outstanding Common Stock, the Series A-1 Conversion Price in effect immediately before that subdivision
shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall
be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at
any time or from time to time after the Series A-1 Original Issue Date combine the outstanding shares of Common Stock, the Series A-1
Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of shares of Common
Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of
shares of Common Stock outstanding. Any adjustment under this subsection shall become effective at the close of business on the date
the subdivision or combination becomes effective.

4.6 Adjustment
for Certain Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series A-1 Original
Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend
or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Series A-1 Conversion
Price in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date
shall have been fixed, as of the close of business on such record date, by multiplying the Series A-1 Conversion Price then in effect
by a fraction: