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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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.

Section
27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the
Exchange Act or the rules and regulations thereunder. As a result, the Delaware Forum Provision will not apply to suits brought to enforce
any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. We note,
however, that there is uncertainty as to whether a court would enforce this provision and that investors cannot waive compliance with
the federal securities laws and the rules and regulations thereunder.

recognize that the Delaware Forum Provision and the Federal Forum Provision in our bylaws may impose additional litigation costs on stockholders
in pursuing any such claims, particularly if the stockholders do not reside in or near the State of Delaware. Additionally, the Delaware
Forum Provision and the Federal Forum Provision may limit our stockholders’ ability to bring a claim in a forum that they find
favorable for disputes with us or our directors, officers or employees, which may discourage such lawsuits against us and our directors,
officers and employees even though an action, if successful, might benefit our stockholders. If the Federal Forum Provision is found
to be unenforceable, we may incur additional costs associated with resolving such matters. The Federal Forum Provision may also impose
additional litigation costs on stockholders who assert that the provision is not enforceable or invalid. The competent courts of the
State of Delaware and the United States District Court may also reach different judgments or results than would other courts, including
courts where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments may
be more or less favorable to us than our stockholders.

Our
ability to use our U.S. net operating loss carryforwards to offset future taxable income may be subject to certain limitations.

of December 31, 2024, we had U.S. federal net operating loss (“NOL”) carryforwards of approximately $174.7 million, which
may be available to offset federal income tax liabilities in the future. In addition, we may generate additional NOLs in future years.
In general, a corporation’s ability to utilize its NOLs may be limited if it experiences an “ownership change” as defined
in Section 382 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). An ownership change generally occurs if
certain direct or indirect “5- percent shareholders,” as defined in Section 382 of the Code, increase their aggregate percentage
ownership of a corporation’s stock by more than 50 percentage points over their lowest percentage ownership at any time during
the testing period, which is generally the three-year period preceding any potential ownership change. If a corporation experiences an
ownership change, the corporation will be subject to an annual limitation that applies to the amount of pre-ownership change NOLs that
may be used to offset post-ownership change.

qualify as an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements
applicable to emerging growth companies and smaller reporting companies will make our common stock less attractive to investors.

qualify as an “emerging growth company,” as defined in the JOBS Act. For as long as we remain an emerging growth company,
we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies, including,
but not limited to, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and
exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden
parachute payments not previously approved. We will remain an emerging growth company until the earliest of: (i) the last day of the
first fiscal year in which our annual gross revenues exceed $1.235 billion, (ii) the date on which we first qualify as a large accelerated
filer under the rules of the SEC, (iii) the date on which we have, in any three-year period, issued more than $1.0 billion in non-convertible
debt securities, and (iv) the last day of the fiscal year following the fifth anniversary of the completion of this offering.

are a “smaller reporting company” as defined in Rule 12b-2 under the Exchange Act. We may continue to be a smaller reporting
company until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is more
than $250 million measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during
the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700 million measured
on the last business day of our second fiscal quarter.

we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from
certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may
choose to present only the two most recent fiscal years of audited financial statements in our annual report on Form 10-K and, similar
to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation. Investors
may find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive
as a result, there may be a less active trading market for our common stock and the market price of our common stock may be adversely
affected and more volatile.

CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS

The
information in this prospectus contains “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements contained in this prospectus other than statements of historical fact, including statements regarding
our future operating results and financial position, our business strategy and plans, market growth, and our objectives for future operations,
are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other important factors
that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements.

You
can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “could,”
“would,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “project,” “target,”
“continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain
these words. The forward-looking statements in this prospectus are only predictions and are based largely on our current expectations
and projections about future events and financial trends that we reasonably believe may affect our business, financial condition, and
results of operations. Although we believe the expectations reflected in any of our forward-looking statements are reasonable, actual
results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition
and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

These
forward-looking statements present our estimates and assumptions only as of the date of this prospectus and are subject to several known
and unknown risks, uncertainties, and assumptions. Accordingly, you are cautioned not to place undue reliance on forward-looking statements,
which speak only as of the dates on which they are made. Except as required by applicable law, we do not plan to publicly update or revise
any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise.
Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are
not limited to, those summarized below:

●	failure
to obtain FDA approval to commercially sell our product candidates in a timely manner or at all;

●	failure
to carry out our trials on the timelines expected and with the expected efficacy or safety results;

●	whether
surgeons and patients in our target markets accept our product candidates, if approved;