SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/forms-1a.htm

Chunk 81 of 85
Word Count: 1331
Character Count: 8351

Document Content:

to us or any other willful and deliberate breach in bad faith of such person’s duty to us or our stockholders. shall not indemnify any such person seeking indemnification in connection with a proceeding (or part thereof) initiated by such person unless the initiation thereof was approved by our Board of Directors. The indemnification rights provided in our amended and restated bylaws, which will be in effect upon the consummation of this offering, shall not be deemed exclusive of any other rights to which those indemnified may be entitled under any by-law, agreement or vote of stockholders or disinterested directors or otherwise, both as to action in their official capacities and as to action in another capacity while holding such office, continue as to such person who has ceased to be a director or officer, and inure to the benefit of the heirs, executors and administrators of such a person.

the Delaware General Corporation Law is amended to expand further the indemnification permitted to indemnitees, then we shall indemnify
such persons to the fullest extent permitted by the Delaware General Corporation Law, as so amended.

may, to the extent authorized from time to time by our Board of Directors, grant indemnification rights to other employees or agents
of ours or other persons serving us and such rights may be equivalent to, or greater or less than, those set forth in our amended and
restated bylaws, which will be in effect upon the consummation of this offering.

Our
obligation to provide indemnification under our amended and restated bylaws, which will be in effect upon the consummation of this offering,
shall be offset to the extent of any other source of indemnification or any otherwise applicable insurance coverage under a policy maintained
by us or any other person.

assure indemnification under our amended and restated bylaws, which will be in effect upon the consummation of this offering, of all
directors, officers, employees or agents who are determined by us or otherwise to be or to have been “fiduciaries” of any
employee benefit plan of ours that may exist from time to time, Section 145 of the Delaware General Corporation Law shall, for the purposes
of our amended and restated bylaws, which will be in effect upon the consummation of this offering, be interpreted as follows: an “other
enterprise” shall be deemed to include such an employee benefit plan, including without limitation, any plan of ours that is governed
by the Act of Congress entitled “Employee Retirement Income Security Act of 1974,” as amended from time to time; we shall
be deemed to have requested a person to serve an employee benefit plan where the performance by such person of his duties to us also
imposes duties on, or otherwise involves services by, such person to the plan or participants or beneficiaries of the plan; and excise
taxes assessed on a person with respect to an employee benefit plan pursuant to such Act of Congress shall be deemed “fines.”

Our
amended and restated bylaws, which will be in effect upon the consummation of this offering, shall be deemed to be a contract between
us and each person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that person is or was, or has agreed to become,
a director or officer of ours, or is or was serving, or has agreed to serve, at our request, as a director, officer or trustee of, or
in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, including any employee benefit
plan, or by reason of any action alleged to have been taken or omitted in such capacity, at any time while this by-law is in effect,
and any repeal or modification thereof shall not affect any rights or obligations then existing with respect to any state of facts then
or theretofore existing or any action, suit or proceeding theretofore or thereafter brought based in whole or in part upon any such state
of facts.

The
indemnification provision of our amended and restated bylaws, which will be in effect upon the consummation of this offering, does not
affect directors’ responsibilities under any other laws, such as the federal securities laws or state or federal environmental
laws.

may purchase and maintain insurance on behalf of any person who is or was a director, officer or employee of ours, or is or was serving
at our request as a director, officer, employee or agent of another company, partnership, joint venture, trust or other enterprise against
liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not we would
have the power to indemnify him against liability under the provisions of this section. We currently maintain such insurance.

The
right of any person to be indemnified is subject to our right, in lieu of such indemnity, to settle any such claim, action, suit or proceeding
at our expense of by the payment of the amount of such settlement and the costs and expenses incurred in connection therewith.

Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling our
company pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission,
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

the event that a claim for indemnification against such liabilities (other than the payment of expenses incurred or paid by a director,
officer or controlling person in a successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered herewith, we will, unless in the opinion of our counsel the matter has been
settled by controlling precedent, submit to the court of appropriate jurisdiction the question whether such indemnification by us is
against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

have entered or will enter into, and intend to continue to enter into, separate indemnification agreements with our directors and officers
that may be broader than the specific indemnification provisions contained in the Delaware General Corporation Law. These indemnification
agreements generally require us, among other things, to indemnify our officers and directors against certain liabilities that may arise
by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct. These indemnification
agreements also generally require us to advance any expenses incurred by the directors or officers as a result of any proceeding against
them as to which they could be indemnified. These indemnification provisions and the indemnification agreements may be sufficiently broad
to permit indemnification of our officers and directors for liabilities, including reimbursement of expenses incurred, arising under
the Securities Act.

Item
15. Recent Sales of Unregistered Securities

During
the last three years, the Company has not issued unregistered securities to any person, except as described below. None of these transactions
involved any underwriters, underwriting discounts or commissions, except as specified below, or any public offering, and, unless otherwise
indicated below, the Company believes that each transaction was exempt from the registration requirements of the Securities Act by virtue
of Section 4(a)(2) thereof and/or Rule 506 of Regulation D promulgated thereunder, and/or Regulation S promulgated thereunder regarding
offshore offers and sales. All recipients had adequate access, though their relationships with the Company, to information about the
Company.

April
2022 Through August 2022 Series B Preferred Stock Financing

From
April 2022 through August 2022, the Company issued $10,000,000 of Series B Preferred Stock to accredited investors. As noted below, such
Series B Preferred Stock were later exchanged for Common Stock pursuant to the February 2023 recapitalization.

January
2023 Unsecured Convertible Note Financing