SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS
Document Type: DRS
Date Filed: 2025-08-05
Accession Number: 0001641172-25-022123
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000164117225022123/filename1.htm

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the SEC and Nasdaq. Shareholder activism, the current political environment and the current high level of government intervention and regulatory reform may lead to substantial new regulations and disclosure obligations, which may lead to additional compliance costs and impact, in ways we cannot currently anticipate, the manner in which we operate our business. Our management and other personnel will devote a substantial amount of time to these compliance programs and monitoring of public company reporting obligations and as a result of the new corporate governance and executive compensation related rules, regulations and guidelines prompted by the Dodd-Frank Act and further regulations and disclosure obligations expected in the future, we will likely need to devote additional time and costs to comply with such compliance programs and rules. These rules and regulations will cause us to incur significant legal and financial compliance costs and will make some activities more time-consuming and costly.

comply with the requirements of being a public company, we may need to undertake various actions, including implementing new internal
controls and procedures and hiring new accounting or internal audit staff. The Sarbanes-Oxley Act requires that we maintain effective
disclosure controls and procedures and internal control over financial reporting. We are continuing to develop and refine our disclosure
controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we file
with the SEC is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that information
required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal executive and financial officers.
Our current controls and any new controls that we develop may become inadequate and weaknesses in our internal control over financial
reporting may be discovered in the future. Any failure to develop or maintain effective controls when we become subject to this requirement
could negatively impact the results of periodic management evaluations and annual independent registered public accounting firm attestation
reports regarding the effectiveness of our internal control over financial reporting that we may be required to include in our periodic
reports we will file with the SEC under Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, harm our operating
results, cause us to fail to meet our reporting obligations or result in a restatement of our prior period financial statements. In the
event that we are not able to demonstrate compliance with the Sarbanes-Oxley Act, that our internal control over financial reporting
is perceived as inadequate or that we are unable to produce timely or accurate financial statements, investors may lose confidence in
our operating results and the price of our common stock could decline. In addition, if we are unable to continue to meet these requirements,
we may not be able to remain listed on Nasdaq.

Unanticipated
changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect
our financial condition and results of operations.

will be subject to income taxes in the United States, and our domestic tax liabilities will be subject to the allocation of expenses
in differing jurisdictions. Our future effective tax rates could be subject to volatility or adversely affected by a number of factors,
including:

●	changes
in the valuation of our deferred tax assets and liabilities;

●	expected
timing and amount of the release of any tax valuation allowances;

●	tax
effects of stock-based compensation;

●	costs
related to intercompany restructurings; or

●	changes
in tax laws, regulations or interpretations thereof.

addition, we may be subject to audits of our income, sales and other transaction taxes by federal, state and local authorities. Outcomes
from these audits could have an adverse effect on our financial condition and results of operations.

Provisions
in our charter documents and under Delaware law, including anti-takeover provisions, could make an acquisition of us, which may be beneficial
to our stockholders, more difficult and may limit attempts by our stockholders to replace or remove our current management.

Our
fourth amended and restated certificate of incorporation and amended and restated bylaws to be in effect following the consummation of
this offering (the “Amended and Restated COI” and the “Amended and Restated Bylaws,” respectively) include anti-takeover
provisions, which may have the effect of delaying or preventing a merger, acquisition or other change of control of us that our stockholders
may consider favorable. In addition, because our board of directors is responsible for appointing the members of our management team,
these provisions may frustrate or prevent any attempts by our stockholders to replace or remove current management by making it more
difficult for stockholders to replace members of our board of directors. Among other things, the charter and bylaws include provisions
that:

●	require
super-majority voting to amend the bylaws and certain provisions in the charter;

●	provide
that only a majority of our board of directors, the chairman of our board of directors, our co-chief executive officers, our Vice
Chairman (if any), our President or stockholders collectively holding more than 50% of our voting securities will be authorized to
call a special meeting of stockholders;

not provide for cumulative voting;

●	prohibit
stockholder action by written consent, which requires all stockholder actions to be taken at a meeting of our stockholders;

●	provide
that our board of directors is expressly authorized to make, alter, or repeal our bylaws, subject to DGCL requirements; and

●	establish
advance notice requirements for nominations for election to our board of directors or for proposing matters that can be acted upon
by stockholders at annual stockholder meetings.

Public
stockholders who might desire to participate in these types of transactions may not have an opportunity to do so, even if the transaction
is considered favorable to stockholders. These anti-takeover provisions could substantially impede the ability of public stockholders
to benefit from a change in control or a change in our management and board of directors and, as a result, may adversely affect the market
price of our common stock and your ability to realize any potential change of control premium.

have never paid dividends on our capital stock, and we do not anticipate paying dividends for the foreseeable future.

have never declared or paid any cash dividends on our capital stock, and we do not anticipate paying any cash dividends in the foreseeable
future. The payment of dividends, if any, in the future is within the discretion of our board of directors and will depend on our earnings,
capital requirements and financial condition and other relevant facts. We currently intend to retain all future earnings, if any, to
finance the development and growth of our business. Accordingly, you must rely on the sale of your common stock after price appreciation,
which may never occur, as the only way to realize any future gain on your investment.

Our
Amended and Restated COI designates certain courts as the sole and exclusive forum for certain types of actions and proceedings that
may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes
with us or our directors, officers, or employees.

Our
Amended and Restated COI provides that, unless we consent in writing to the selection of an alternative forum, a state or federal court
located in the State of Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf
of us, (ii) any action asserting a claim for breach of a fiduciary duty owed by any director, officer or other employee of the
Company to the Company or the Company’s stockholders, (iii) any actions asserting a claim arising pursuant to any provision of
the DGCL, the certificate of incorporation or the bylaws of the Company, in each case as amended, or (iv) any action asserting a claim
governed by the internal affairs doctrine, in each such case subject to such court having personal jurisdiction over the indispensable
parties named as defendants therein (the “Delaware Forum Provision”). This, however, shall not apply to claims or causes
of action brought to enforce a duty or liability created by the Securities Act or the Exchange Act, or any other claim for which the
federal courts have exclusive jurisdiction. Our bylaws further provide that, unless we consent in writing to the selection of an alternative
forum, the federal district courts of the United States of America shall be the sole and exclusive forum for resolving any complaint
asserting a cause of action arising under the Securities Act (the “Federal Forum Provision”). In addition, our bylaws provide
that any person or entity purchasing or otherwise acquiring any interest in shares of our common stock is deemed to have notice of and
consented to the Delaware Forum Provision and the Federal Forum Provision.