SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-3.7
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/ex3-7.htm

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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 Series A-1 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 Series A-1 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 the closing of the sale of shares of Common Stock to the public in a public offering pursuant to an effective
registration statement under the Securities Act of 1933, as amended, resulting in at least $7,500,000 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
(the time of such closing or the date and time specified or the time of the event specified in such approval is referred to herein as
the “Mandatory Conversion Time”), then at the Mandatory Conversion Time (i) each outstanding share of Series A-1 Preferred
Stock shall automatically be converted 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 4.1.1 or (B) three (3.0) times the Series A-1 Original Issue Price divided by
the price per share of the Common Stock issued in the public offering and (ii) such shares may not be reissued by the Corporation

Procedural Requirements. All holders of record of shares of Series A-1 Preferred Stock shall be sent written notice of the Mandatory
Conversion Time and the place designated for mandatory conversion of all such shares of Series A-1 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 Series A-1 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 Series A-1 Preferred Stock converted pursuant to Subsection 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 Subsection 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 Series A-1
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 cash as
provided in Subsection 4.2 in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and the
payment of any declared but unpaid cash dividends on the shares of Series A-1 Preferred Stock converted. Such converted Series A-1 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 Series A-1 Preferred
Stock accordingly.

Redeemed or Otherwise Acquired Shares. Any shares of Series A-1 Preferred Stock that are redeemed or otherwise acquired by the
Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or
transferred. Neither the Corporation nor any of its subsidiaries may exercise any voting or other rights granted to the holders of Series
A-1 Preferred Stock following redemption.

Waiver. Any of the rights, powers, preferences and other terms of the Series A-1 Preferred Stock set forth herein may be waived
on behalf of all holders of Series A-1 Preferred Stock by the affirmative written consent or vote of the holders of at least a majority
of the shares of Series A-1 Preferred Stock then outstanding.

Notices. Any notice required or permitted by the provisions hereof to be given to a holder of shares of Series A-1 Preferred Stock
shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation, or given by electronic communication
in compliance with the provisions of the DGCL, and shall be deemed sent upon such mailing or electronic transmission.