Sec Form 13G Filing - Vivo Opportunity Fund Holdings L.P. filing for TENAX THERAPEUTICS INC. (TENX) - 2024-08-14

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No.    )*

 

Tenax Therapeutics, Inc.

(Name of Issuer)

 

Common Stock, $0.0001 par value

(Title of Class of Securities)

 

88032L605

(CUSIP Number)

 

August 8, 2024

(Date of Event which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

☐Rule 13d-1(b)

 

☒Rule 13d-1(c)

 

☐Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

1.

NAMES OF REPORTING PERSONS

 

Vivo Opportunity Fund Holdings, L.P.

2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐     (b) ☒

 

3.

SEC USE ONLY

 

 

4.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 5.

SOLE VOTING POWER

 

6,249,990 (1)(2)

6.

SHARED VOTING POWER

 

0

7.

SOLE DISPOSITIVE POWER

 

6,249,990 (1)(2)

8.

SHARED DISPOSITIVE POWER

 

0

9.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

6,249,990 (1)(2)

10.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES      ☐

 

 

11.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

9.99% (2)

12.

TYPE OF REPORTING PERSON

 

PN

 

(1)

The number represents 208,333 shares of common stock, par value $0.0001 per share (the “Common Stock”) of Tenax Therapeutics, Inc. (the “Issuer”), pre-funded warrants to purchase 3,958,327 shares of the Issuer’s Common Stock (the “Pre-Funded Warrants”), along with accompanying warrants (the “Warrants”) to purchase 2,083,330 shares of the Issuer’s Common Stock (or, in lieu thereof, additional pre-funded warrants), based on 3,408,906 shares of Common Stock of the Issuer outstanding as of August 10, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the “SEC”) on August 13, 2024. All securities are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P.

 

(2)

The Pre-Funded Warrants and the Warrants contain provisions preventing the Reporting Persons from exercising them into shares of the Issuer’s Common Stock, if such exercise would result in the holder obtaining greater than 9.99% of the Issuer’s voting securities. However, the amounts reported in rows 5, 7 and 9 herein represent the number of shares of Common Stock that would be issuable upon exercise of the Pre-Funded Warrants and the Warrants in full, and do not give effect to the blocking provisions.

 

2

 

 

1.

NAMES OF REPORTING PERSONS

 

Vivo Opportunity, LLC

2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐     (b) ☒

 

3.

SEC USE ONLY

 

 

4.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 5.

SOLE VOTING POWER

 

6,249,990 (1)(2)

6.

SHARED VOTING POWER

 

0

7.

SOLE DISPOSITIVE POWER

 

6,249,990 (1)(2)

8.

SHARED DISPOSITIVE POWER

 

0

9.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

6,249,990 (1)(2)

10.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES      ☐

 

 

11.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

9.99% (2)

12.

TYPE OF REPORTING PERSON

 

OO

 

(1)

The number represents 208,333 shares of Common Stock of the Issuer, Pre-Funded Warrants to purchase 3,958,327 shares of the Issuer’s Common Stock, along with accompanying Warrants to purchase 2,083,330 shares of the Issuer’s Common Stock (or, in lieu thereof, additional pre-funded warrants), based on 3,408,906 shares of Common Stock of the Issuer outstanding as of August 10, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q, filed with the SEC on August 13, 2024. All securities are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P.

 

(2)

The Pre-Funded Warrants and the Warrants contain provisions preventing the Reporting Persons from exercising them into shares of the Issuer’s Common Stock, if such exercise would result in the holder obtaining greater than 9.99% of the Issuer’s voting securities. However, the amounts reported in rows 5, 7 and 9 herein represent the number of shares of Common Stock that would be issuable upon exercise of the Pre-Funded Warrants and the Warrants in full, and do no t give effect to the blocking provisions.

 

3

 

 

Item 1. Issuer

 

  (a) Name of Issuer:
     
    Tenax Therapeutics, Inc. (the “Issuer”)
     
  (b) Address of Issuer’s Principal Executive Offices:
     
    101 Glen Lennox Drive, Suite 300, Chapel Hill, North Carolina, 27517

 

Item  2. Filing Person

 

  (a) – (c) Name of Persons Filing; Address; Citizenship:

  

  (i) Vivo Opportunity Fund Holdings, L.P., a Delaware limited partnership; and

 

  (ii) Vivo Opportunity, LLC, a Delaware limited liability company. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P.

 

    The address of the principal business office of the Reporting Persons is 192 Lytton Avenue, Palo Alto, CA 94301.
     
  (d) Title of Class of Securities:
     
    Common Stock, par value $0.0001 per share (“Common Stock”).
     
  (e)

CUSIP Number:

 

88032L605

 

Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

 

  (a) ¨ Broker or dealer registered under Section 15 of the Act;
       
  (b) ¨ Bank as defined in Section 3(a)(6) of the Act;
       
  (c) ¨ Insurance company as defined in Section 3(a)(19) of the Act;
       
  (d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940;
       
  (e) ¨ An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
       
  (f) ¨ An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
       
  (g) ¨ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
       
  (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
       
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;
       
  (j) ¨ A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);
       
  (k) ¨ Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

 

If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:

 

4

 

 

Item 4.Ownership.

 

(a) and (b)

Amount beneficially owned:

 
   

The information set forth in rows 5 through 11 of the cover pages is incorporated by reference into this Item 4.

 

The shares reported in this Schedule 13G include 208,333 shares of Common Stock of the Issuer, pre-funded warrants to purchase 3,958,327 shares of the Issuer’s Common Stock (the “Pre-Funded Warrants”), along with accompanying warrants (the “Warrants”) to purchase 2,083,330 shares of the Issuer’s Common Stock (or, in lieu thereof, additional pre-funded warrants). All securities are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P.

 

The Pre-Funded Warrants and the Warrants contain provisions preventing the Reporting Persons from exercising them into shares of the Issuer’s Common Stock, if such exercise would result in the holder obtaining greater than 9.99% of the Issuer’s voting securities. However, the amounts reported in this Item 4 herein represent the number of shares of Common Stock that would be issuable upon exercise of

the Pre-Funded Warrants and the Warrants in full, and do not give effect to the blocking provisions.
     
  (c) Number of shares as to which such person has:

 

Reporting Person  Sole
Voting
Power		   Shared
Voting
Power		   Sole
Dispositive
Power		   Shared
Dispositive
Power		   Percentage of
Common Stock
Outstanding		 
Vivo Opportunity Fund Holdings, L.P.   6,249,990    0    6,249,990         0    9.99%*
Vivo Opportunity, LLC   6,249,990    0    6,249,990    0    9.99%*

 

*The percent of class was based on 3,408,906 shares of Common Stock of the Issuer outstanding as of August 10, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q, filed with the SEC on August 13, 2024, after giving effect to the blocking provisions described above, which prevent the Reporting Persons from exercising the Pre-Funded Warrants or the Warrants in excess of 9.99% of the Issuer’s voting securities.

 

Item 5.

Ownership of Five Percent or Less of a Class.

 

Not applicable.
   
Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.
   
Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

 

Not applicable.

   
Item 8.

Identification and Classification of Members of the Group.

 

Not applicable.
   
Item 9.

Notice of Dissolution of Group.

 

Not applicable.
   
Item 10.

Certification.

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

 

5

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: August 14, 2024

 

VIVO OPPORTUNITY FUND HOLDINGS, L.P,  
   

By:

Vivo Opportunity, LLC

  
Its: General Partner  

 

/s/ Kevin Dai  

Name:

Kevin Dai

  
Title: Managing Member  

 

VIVO OPPORTUNITY, LLC  
   
/s/ Kevin Dai  

Name:

Kevin Dai

  
Title: Managing Member  

 

6

 

 

EXHIBIT INDEX

 

Exhibit

 

99.1Joint Filing Statement

  

 

7