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

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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 us 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 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. Therefore, if the offering
price is $10.00/share or greater, each share of Series A Preferred Stock will convert into one share of Common Stock. If the offering
price is less than $10.00/share, then each share of Series A Preferred Stock will convert into the number of shares of Common Stock as
calculated by dividing $10.00 by the offering price. For example, if the offering price is $8.00, then each share of Series A Preferred
Stock will get $10.00 divided by $8.00 (1.25000) shares of Common Stock.

October
2024 Through March 2026 Series A-1 Secured Convertible Note Financing

From October 2024
through March 2026, we issued $7,875,000 in principal amount of 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 4.1.1 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-1
Preferred Stock divided by the price per share of the Common Stock issued in this offering. Therefore, if the offering price is $10.00/share
or greater, each share of Series A-1 Preferred Stock will convert into one share of Common Stock. If the offering price is less than
$10.00/share, then each share of Series A-1 Preferred Stock will convert into the number of shares of Common Stock as calculated by dividing
$9.99 by the offering price. For example, if the offering price is $8.00, then each share of Series A-1 Preferred Stock will get $9.99
divided by $8.00 (1.24875) shares of Common Stock.

April 2026 Series A-2 Secured Convertible Note
Financing

Starting in April 2026, we
issued $805,000 in principal amount of secured convertible promissory notes (the “Series A-2 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-2 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-2 Secured
Convertible Note financing, we filed a Certificate of Designations of the Rights, Preferences and Privileges of Series A-2 Preferred
Stock which designated a new Series A-2 Preferred Stock from its authorized Blank Check Preferred Stock. The Series A-2 Secured Convertible
Notes automatically convert into shares of Series A-2 Preferred Stock at the conversion price of $5.00 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-2 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 4.1.1 of the Certificate of Designations of Rights, Preferences and Privileges of Series
A-2 Preferred Stock or (B) two times (2x) the original issue price of the Series A-2 Preferred Stock divided by the price per share of
the Common Stock issued in this offering. Therefore, if the offering price is $10.00/share or greater, each share of Series A-2 Preferred
Stock will convert into one share of Common Stock. If the offering price is less than $10.00/share, then each share of Series A-2 Preferred
Stock will convert into the number of shares of Common Stock as calculated by dividing $10.00 by the offering price. For example, if
the offering price is $8.00, then each share of Series A-2 Preferred Stock will get $10.00 divided by $8.00 (1.25) shares of Common Stock.

Investors’ Rights
Agreement

We are party to an Investors’ Rights Agreement (the “Investors’ Rights Agreement”), dated March 30, 2023, with certain holders of our capital stock. Under our Investors’ Rights Agreement, certain holders of our capital stock have the right to demand
that we file a registration statement or request that their shares of our capital stock be covered by a registration statement that we
are otherwise filing. Pursuant to the Investors’ Rights Agreement, after the completion of this offering, certain holders of our common
stock will be entitled to rights with respect to the registration of their shares under the Securities Act.

Demand Registration
Rights

After the completion
of this offering, the holders of up to [ ] shares of our common stock will be entitled to certain demand registration rights. At the
earlier of (i) March 30, 2026 or (ii) 180 days from the effective date of this Registration Statement and upon the request of
the holders of at least 50% of Series A Preferred Stock and common stock issuable upon the conversion of the Series A Preferred Stock,
and common stock acquired by such holders after the date of the Investors’ Rights Agreement (the “Registrable Securities”),
we will be required register the offer and sale of at least 40% of the Registrable Securities then outstanding (or a lesser percent if
the anticipated aggregate public offering price (net of selling expenses) would exceed $10 million, subject to certain expenses.

Piggyback Registration
Rights

After the completion
of this offering, if we propose to register the offer and sale of shares of our common stock under the Securities Act, in connection
with the public offering of such common stock, certain holders will be entitled to certain “piggyback” registration
rights under the Investors’ Rights Agreement, allowing such holders to include their shares in such registration, subject to
certain marketing and other limitations.