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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$ of estimated offering expenses payable by us, assuming the underwriters do not exercise any portion of their over-allotment option. The information set forth in the table below is illustrative only and will be adjusted based on the actual initial public offering price and other terms of this offering as determined at pricing. You should read this table together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our audited financial statements and related notes and unaudited interim condensed financial statements and related notes thereto included elsewhere in this prospectus. of March 31, 2025 Actual Pro Forma Pro Forma As Adjusted Cash and cash equivalents $ 2,161,390 $ Total liabilities 9,189,710 Stockholders’ Equity: Preferred Stock: Par value of $0.0001 per share, 1,565,000 shares issued and outstanding, actual; par value of $0.0001 per share, no shares issued and outstanding, pro forma and pro forma as adjusted. 157

Common Stock: Par value of $0.0001 per share, 5,674,143 shares issued
and outstanding, actual; par value of $0.0001 per share, shares issued and outstanding, pro forma; par value of $0.0001 per share
shares issued and outstanding, pro forma as adjusted. 567

Stock subscriptions [  ]

Additional paid-in capital 218,580,016

Accumulated deficit (224,846,417	)

Total stockholders’ equity (6,265,677	)

Total capitalization $	2,924,033 $

The
number of shares of our common stock to be outstanding upon completion of this offering will be              shares
assuming no exercise of the over-allotment by the underwriters, which is based on 5,674,143 shares of our common stock outstanding
as of March 31, 2025, which includes 5,697,138 shares of common stock being issued upon the closing of this offering in
connection with the conversion of: (i) 1,565,000 shares of our existing Series A Preferred Stock into 1,565,000 shares of common stock
and (ii) $5,719,152 of our existing convertible notes into 4,132,138 shares of our common stock, and excludes, as of
March 31, 2025:

●	shares of common stock issuable upon the exercise of
the Representative’s Warrant;

shares of our common stock reserved for issuance under stock option agreements issued pursuant to 2024 Equity Incentive Plan;
and

shares of our common stock (which is equal to         % of our issued and outstanding common
stock immediately after the consummation this offering) reserved for future issuance under our 2025 Equity Incentive Plan, which
will become effective as of the closing of this offering.

Each
$1.00 increase (decrease) in the assumed initial public offering price of $        per share (the midpoint of the estimated price range set
forth on the cover page of this prospectus) would increase (decrease) the amount of cash, additional paid-in capital, total stockholders’
equity (deficit) and total capitalization on a pro forma as adjusted basis by approximately $          , assuming the number of shares, as set
forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and estimated offering expenses
payable by us. Similarly, each increase (decrease) of           shares offered by us would increase (decrease) cash, total stockholders’
equity (deficit) and total capitalization on a pro forma as adjusted basis by approximately $         , assuming the assumed initial public offering
price of $          per share (the midpoint of the estimated price range set forth on the cover page of this prospectus) remains the same, and
after deducting underwriting discounts and commissions and estimated offering expenses payable by us. The pro forma as adjusted information
discussed above is illustrative only and will be adjusted based on the actual public offering price and other terms of this offering
determined at pricing.

DILUTION

you purchase shares of our common stock in this offering, your interest will be diluted immediately to the extent of the difference between
the assumed initial public offering price of $          per share (the midpoint of the estimated
price range set forth on the cover page of this prospectus) and the pro forma as adjusted net tangible book value per share of our common
stock immediately upon the consummation of this offering. Net tangible book value per share of common stock is determined by dividing
our total tangible assets less total liabilities by the number of outstanding shares of our common stock. As of March 31, 2025,
we had a historical net tangible book value of $(6.3 million), or $(0.87) per share of common stock. Our historical net
tangible book value per share represented total tangible assets less total liabilities, divided by 7,239,173 shares of our common
stock outstanding as of December 31, 2024.

Our
pro forma net tangible book value as of March 31, 2025 was $[___], or $
per share of our common stock based on         shares of our common stock outstanding. Pro forma
net tangible book value represents the amount of our historical total tangible assets less our total liabilities, after giving effect
to the issuance of         shares of common stock at a price of $ per share corresponding to
a financing that was completed subsequent to            and the issuance of 5,697,138
shares of common stock being issued upon the closing of this offering in connection with the conversion of: (i) 1,565,000 shares of our
existing Series A Preferred Stock into 1,565,000 shares of common stock and (ii) $5,719,152 of our existing convertible notes
into 4,132,138 shares of our common stock.

After
giving further effect to our sale of           shares of common stock in this offering at
an assumed initial public offering price of $          per share (the midpoint of the estimated
price range set forth on the cover page of this prospectus), and after deducting underwriters’ discounts and estimated offering
expenses, upon the completion of this offering, our pro forma as adjusted net tangible book value as of March 31, 2025
would have been $           , or $          per
share of common stock. This represents an immediate increase in pro forma net tangible book value of $
per share of common stock to existing stockholders and an immediate dilution in net tangible book value of $
per share to new investors of shares in this offering. We determine dilution by subtracting the pro forma as adjusted net tangible book
value per share after this offering from the public offering price that a new investor paid for a share of common stock in this offering.

the underwriters exercise their over-allotment option in full to purchase          additional shares of common stock in this offering at the assumed
initial public offering price of $           per share (the midpoint of the estimated price range set forth on the cover page of this prospectus),
the pro forma as adjusted net tangible book value per share after this offering would be $           per share of common stock, the increase in
the pro forma as adjusted net tangible book value per share would be $           per share of common stock and the dilution to new investors purchasing
securities in this offering would be $           per share of common stock.

The
following table illustrates this dilution on a per share of common stock basis assuming the underwriters do not exercise any portion
of their over-allotment option and assuming the underwriters exercise their over-allotment option in full:

Offering
Without Over-Allotment Offering
With Over-Allotment

Assumed public offering price per share $ $

Historical net tangible book value (deficit) per share as of March

Increase in net tangible book value (deficit)
per share attributable to the pro forma adjustments described above $ $

Pro forma net tangible book value (deficit)
per share, as of March 31, 2025, before giving effect to this offering $ $

Increase in pro forma net tangible book value
(deficit) per share attributable to new investors in this offering $ $

Pro forma as adjusted net tangible book value
per share after giving effect to this offering $ $

Dilution per share to new investors in this
offering $ $

The
dilution information discussed above is illustrative only and may change based on the actual initial public offering price and other
terms of this offering.

Assuming
the underwriters’ over-allotment option is not exercised, each $1.00 increase (decrease) in the assumed initial public offering
price of $         per share (the midpoint of the estimated price range set forth on the cover page of this prospectus) would increase (decrease)
our pro forma as adjusted net tangible book value after giving effect to this offering by $         , or by approximately $         per share of common
stock and the dilution to new investors purchasing our common stock in this offering by approximately $         per share, assuming the number
of shares offered by us remains the same and after deducting the estimated underwriting discount and estimated offering expenses payable
by us. In addition, to the extent any stock options that we granted to certain of our officers, directors, employees and permitted consultants,
new investors would experience further dilution.