SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-12-12
Accession Number: 0001493152-25-027406
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225027406/filename1.htm

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Officer and President, was granted 220,000 stock options at an exercise price of $1.00 per share. The option shares vest 55,000 after one year and, thereafter, 4,583 of the option shares shall vest at the end of each full month over thirty-six (36) consecutive months. On January 1, 2025, Mr. Richmond, our Co-Chief Executive Officer and Chief Financial Officer was granted 191,000 stock options at an exercise price of $1.00 per share. The option shares vest 47,750 after one year and, thereafter, 3,979 of the option shares shall vest at the end of each full month over thirty-six (36) consecutive months. In March 2024, officers and directors received 348,000 shares of restricted stock awards, 232,000 shares valued at $0.80 per share vested immediately. In March 2024, Mr. Richmond, our Co-Chief Executive Officer and Chief Financial Officer and entities controlled by him purchased $1,830,000 Series A Secured Convertible Notes from us.

In February 2024, Mr.
Taglich and Mr. Richmond and entities controlled by them purchased 650,000 Preferred Series A shares from other investors Mr. Taglich and Mr. Richmond subsequently sold 195,780 of these shares to us at cost to be used as incentive for certain purchasers of Series A Secured
Convertible Notes (the “Sweetener Shares”). We acquired an additional 30,120 Preferred Series A shares from Mr. Mark Ravich
for a total of 225,900 Sweetener Shares.

March 20, 2023, we entered into a Voting Agreement with holders of the Series A Preferred Stock. According to its terms, the Voting Agreement
will terminate upon the closing of this offering.

March 2022, we entered into a placement agent agreement with Taglich Brothers, Inc. (“Taglich Brothers”), when Michael Taglich
was a director at BioVentrix. Under the agreement, Taglich Brothers, where Michael Taglich is an owner, acted as the exclusive placement
agent on a best-efforts basis for our Series B Preferred Stock financing, and was contracted to receive a 7% cash fee on new cash investments
and warrants equal to 10% of the underlying shares of common stock issuable upon conversion. Pursuant to this placement agent agreement,
Taglich Brothers received $1,227,980 in Series B Preferred Stock in 2023 which subsequently converted to 587 shares of common in the
February 2023 recapitalization. See “Description of Capital Stock — History of Securities Issuances — February 2023
Recapitalization.”

Policies
and Procedures with Respect to Related Party Transactions

Pursuant
to the audit committee charter to be adopted upon closing of this offering, our audit committee will be responsible for reviewing and
approving transactions with related persons. A related person includes directors, executive officers, beneficial owners of 5% or more
of any class of our voting securities, immediate family members of any of the foregoing persons, and any entities in which any of the
foregoing is an executive officer or is an owner of 5% or more ownership interest.

a transaction involving an amount in excess of $120,000 has been identified as a related person transaction, including any transaction
that was not a related person transaction when originally consummated or any transaction that was not initially identified as a related
person transaction prior to consummation, information regarding the related person transaction will be reviewed by our audit committee,
which will determine whether to approve the transaction.

considering related person transactions, our audit committee will take into account the relevant available facts and circumstances including,
but not limited to:

●	the
related person’s interest in the related person transaction;

●	the
approximate dollar value of the amount involved in the related person transaction;

●	the
approximate dollar value of the amount of the related person’s interest in the transaction
without regard to the amount of any profit or loss;

●	whether
the transaction was undertaken in our ordinary course of business;

●	whether
the transaction with the related person is proposed to be, or was, entered into on terms
no less favorable to us than terms that could have been reached with an unrelated
third party;

●	the
purpose of, and the potential benefits to us of, the transaction; and

●	any
other information regarding the related person transaction or the related person in the context
of the proposed transaction that would be material to investors in light of the circumstances
of the particular transaction.

determining whether to approve, ratify or reject a related person transaction, the audit committee will review all relevant information
available to it about such transaction, and it will approve or ratify the related person transaction only if it determines that, under
all of the circumstances, the transaction is in, or is not inconsistent with, our best interests.

Indemnification
of Officers and Directors

Our
Amended and Restated COI contains provisions to indemnify the directors, officers, employees or other agents to the fullest extent permitted
by the Delaware General Corporation Law. These provisions may have the practical effect in certain cases of eliminating the ability of
stockholders to collect monetary damages from directors. We are also a party to indemnification agreements with each of our directors
and executive officers. We believe that these provisions will assist us in attracting or retaining qualified individuals to serve as
our directors and executive officers.

DESCRIPTION
OF CAPITAL STOCK

The
following summary of the capital stock and our Amended and Restated COI and Amended and Restated Bylaws (each to be in effect
as of the effectiveness of the registration statement of which this prospectus forms a part) does not purport to be complete and is qualified
in its entirety by reference to the provisions of applicable law and such documents, which are filed as exhibits to the registration
statement of which this prospectus is a part.

Common
Stock

Voting
Rights. Holders of shares of common stock are entitled to one vote per share held of record on all matters to be voted upon by the
stockholders. Holders of shares of common stock have no cumulative voting rights.

Quorum.
Our Amended and Restated Bylaws provide that the holders of not less than one third (33 1/3 percent) of the outstanding shares of common
stock entitled to vote constitutes a quorum. In the absence of a quorum, any meeting of stockholders may be adjourned, from time to time,
either by the chairman of the meeting or by vote of the holders of a majority of the shares represented thereat, but no other business
shall be transacted at such meeting. Where a separate vote by a class or classes or series is required, except where otherwise provided
by the statute or by our Amended and Restated COI or our Amended and Restated Bylaws, one-third (33 1/3 percent) of the outstanding shares
of such class or classes or series, present in person or represented by proxy, shall constitute a quorum entitled to take action with
respect to that vote on that matter and, except where otherwise provided by the statute or by our Amended and Restated COI or our Amended
and Restated Bylaws, the affirmative vote of the majority (plurality, in the case of the election of directors) of the votes cast, including
abstentions, by the holders of shares of such class or classes or series shall be the act of such class or classes or series.

Dividend
Rights. Holders of shares of common stock are entitled to ratably receive dividends when and if declared by the board of directors
out of funds legally available for that purpose, subject to the provisions of our Amended and Restated COI or our Amended and Restated
Bylaws, any statutory or contractual restrictions on the payment of dividends, and any prior rights and preferences that may be applicable
to any outstanding preferred stock.

Liquidation
Rights. Upon liquidation, dissolution, distribution of assets or other winding up, the holders of common stock are entitled to receive
ratably the assets available for distribution to the stockholders after payment of liabilities and the liquidation preference of any
of our outstanding shares of preferred stock.

Other
Matters. The shares of common stock have no preemptive or preferential right to acquire any of our shares or securities, including
shares or securities held in our treasury. All outstanding shares of our common stock are fully paid and non-assessable.

Preferred
Stock

Our
Amended and Restated COI gives the board of directors the power to issue shares of preferred stock in one or more series without stockholder
approval. The board of directors has the discretion to determine the designations, rights, qualifications, preferences, privileges, and
restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each
series of preferred stock. The purpose of authorizing the board of directors to issue preferred stock and determine its rights and preferences
is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing desirable
flexibility in connection with possible acquisitions and other corporate purposes, could have the effect of making it more difficult
for a third party to acquire, or could discourage a third party from acquiring, a majority of our outstanding voting stock.

Stock
Options