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

Chunk 7 of 11
Word Count: 1124
Character Count: 6984

Document Content:

Conversion Price then in effect, and (ii) the number of shares of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of Preferred Stock. Notice of Record Date. In the event: the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security; or of any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation Event; or of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then,
and in each such case, the Corporation will send or cause to be sent to the holders of the Preferred Stock a notice specifying, as the
case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution
or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation
or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such
other capital stock or securities at the time issuable upon the conversion of the Preferred Stock) shall be entitled to exchange their
shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of
such exchange applicable to the Preferred Stock and the Common Stock. Such notice shall be sent at least ten (10) days prior to the record
date or effective date for the event specified in such notice.

Mandatory Conversion.

Trigger Events. Upon either (a) the closing of the sale of shares of Common Stock to the public at a price of at least $30.00
per share (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization
with respect to the Common Stock), in a firm-commitment underwritten public offering pursuant to an effective registration statement
under the Securities Act of 1933, as amended, resulting in at least $100,000,000 of gross proceeds, net of the underwriting discount
and commissions, to the Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market’s
National Market, the New York Stock Exchange or another exchange or marketplace approved the Board of Directors, including the approval
of at least one (1) Preferred Director or (b) the date and time, or the occurrence of an event, specified by vote or written consent
of the Requisite Holders (the time of such closing or the date and time specified or the time of the event specified in such vote or
written consent is referred to herein as the “Mandatory Conversion Time”), then (i) all outstanding shares of Preferred
Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate as calculated pursuant to Section
4.1.1 and (ii) such shares may not be reissued by the Corporation.

Procedural Requirements. All holders of record of shares of Preferred Stock shall be sent written notice of the Mandatory Conversion
Time and the place designated for mandatory conversion of all such shares of Preferred Stock pursuant to this Section 5. Such
notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares
of Preferred Stock in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if such
holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable
to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged
loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice. If so required by the Corporation,
any certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form
satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All
rights with respect to the Preferred Stock converted pursuant to Section 5.1, including the rights, if any, to receive notices
and vote (other than as a holder of Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the
holder or holders thereof to surrender any certificates at or prior to such time), except only the rights of the holders thereof, upon
surrender of any certificate or certificates of such holders (or lost certificate affidavit and agreement) therefor, to receive the items
provided for in the next sentence of this Section 5.2. As soon as practicable after the Mandatory Conversion Time and, if applicable,
the surrender of any certificate or certificates (or lost certificate affidavit and agreement) for Preferred Stock, the Corporation shall
(a) issue and deliver to such holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of
Common Stock issuable on such conversion in accordance with the provisions hereof and (b) pay any declared but unpaid dividends on the
shares of Preferred Stock converted. Such converted Preferred Stock shall be retired and cancelled and may not be reissued as shares
of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary
to reduce the authorized number of shares of Preferred Stock accordingly.

Special Mandatory Conversion.

Trigger Event. In the event the Second Tranche Closing (as defined below) occurs, any holder of shares of Preferred Stock that
does not purchase, in the Second Tranche Closing, the Preferred Stock required to be purchased by such holder pursuant to the Series
A Purchase Agreement (as defined below), then each share of Preferred Stock held by such defaulting holder shall automatically, and without
any further action on the part of such holder, be converted into shares of Common Stock pursuant to the conversion ratio set forth in
Section 4.1.1, provided however, that the Conversion Price used in such conversion will be the product of (x) the Conversion
Price in effect immediately prior to the Second Tranche Closing, multiplied by (y) ten (10). Such conversion is referred to as a “Special
Mandatory Conversion.”