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

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of $2,650,000. The aggregate outstanding amount of $5,650,000 was later converted into 565,000 shares of Series A Preferred Stock in the March 2023 Series A Preferred Stock Financing. February 2023 Recapitalization In February 2023, we completed a recapitalization pursuant to which all of the Company’s then outstanding Common Stock, Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock were exchanged for new shares of Common Stock of the Company, and all of the Company’s outstanding Common Stock then underwent a reverse Common Stock split of 1 share of Common Stock share for each 65,500 shares of Common Stock with any fractional shares of Common Stock existing immediately after the reverse Common Stock split being purchased in cash by the Company at fair value. Additionally, substantially all of the Company’s then outstanding stock options and warrants were exchanged for Common Stock. March 2023 Series A Preferred Stock Financing

On March 30, 2023, we
consummated a Series A Preferred Stock financing (the “March 2023 Series A Preferred Stock Financing”) pursuant to which
we issued $15,650,000 of newly authorized Series A Preferred Stock (which amount included the conversion of the $5,650,000 in
principal amount of our then outstanding Unsecured Convertible Notes) to accredited investors at the initial closing with the
potential for issuance of up to $32,850,000 in additional Series A Preferred Stock in subsequent closings if certain milestones were
achieved by us on or before September 30, 2023. Such milestones were not achieved by us. In connection with the March 2023
Series A Preferred Stock Financing, we amended and restated our then existing Second Amended and Restated Certificate of
Incorporation to read as set forth in its Third Amended and Restated Certificate of Incorporation which amended and restated certificate
provided for an immediate forward Common Stock split of 176.582 shares of Common Stock for each 1 share of outstanding Common Stock and
set forth the rights, preferences, and privileges of the newly authorized Series A Preferred Stock. Additionally, as part of the March
2023 Series A Preferred Stock Financing, we entered into an Investors’ Rights Agreement, a Right of First Refusal and Co-Sale
Agreement, and a Voting Agreement with the holders of our Series A Preferred Stock and certain holders of our Common Stock.
The Right of First Refusal and Co-Sale Agreement and the Voting Agreement automatically terminate immediately prior to the closing of
this offering. Subsequent to the closing of the March 2023 Series A Preferred Stock Financing, we filed two amendments to its
Third Amended and Restated Certificate of Incorporation 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 January 2026 Series A-1 Secured Convertible Note Financing

From October 2024 through January
2026, we issued $7,575,000 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.

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