Vivo Opportunity Reports 9% Stake in Tenax Therapeutics

Tenax Therapeutics, Inc. is reported as having a significant shareholder group led by Vivo Opportunity Fund Holdings, L.P. and its general partner, Vivo Opportunity, LLC.

Rhea-AI Filing Summary

Tenax Therapeutics, Inc. is reported as having a significant shareholder group led by Vivo Opportunity Fund Holdings, L.P. and its general partner, Vivo Opportunity, LLC. These reporting persons together beneficially own 3,458,327 Tenax securities, consisting of 2,500,000 shares of common stock and pre-funded warrants to purchase 958,327 additional common shares. Based on 37,423,917 shares of common stock outstanding as of July 28, 2026, plus the shares underlying the pre-funded warrants, this position represents 9.0% of Tenax’s common stock. The reporting persons have sole voting and dispositive power over all 3,458,327 securities, and no shared voting or dispositive power.

Key Figures

Beneficial ownership: 3,458,327 shares/warrants Common stock held: 2,500,000 shares Pre-funded warrants: 958,327 shares +2 more

5 metrics

Beneficial ownership 3,458,327 shares/warrants Total Tenax securities beneficially owned by Vivo Opportunity entities

Common stock held 2,500,000 shares Tenax common shares held by Vivo Opportunity Fund Holdings, L.P.

Pre-funded warrants 958,327 shares Common shares issuable upon exercise of pre-funded warrants

Ownership percentage 9.0% Beneficial ownership of Tenax common stock including warrant shares

Shares outstanding baseline 37,423,917 shares Tenax common shares outstanding as of July 28, 2026

Key Terms

pre-funded warrants, beneficially owned, sole voting power, sole dispositive power

4 terms

pre-funded warrants financial

"pre-funded warrants to purchase 958,327 shares of the Issuer's Common Stock"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

beneficially owned financial

"Amount beneficially owned: The shares reported in this include 2,500,000 shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole Voting Power 3,458,327.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 3,458,327.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Tenax Therapeutics (TENX) does Vivo Opportunity report owning?

Vivo Opportunity Fund Holdings, L.P. and Vivo Opportunity, LLC report beneficial ownership of 9.0% of Tenax Therapeutics’ common stock, based on 37,423,917 shares outstanding plus 958,327 shares issuable upon exercise of pre-funded warrants.

How many Tenax Therapeutics (TENX) securities does Vivo Opportunity beneficially own?

They beneficially own 3,458,327 Tenax securities, including 2,500,000 common shares and pre-funded warrants to purchase 958,327 additional common shares, all held of record by Vivo Opportunity Fund Holdings, L.P.

What instruments make up Vivo Opportunity’s stake in Tenax Therapeutics (TENX)?

The stake consists of 2,500,000 shares of common stock and pre-funded warrants to purchase 958,327 common shares, giving a total beneficial position of 3,458,327 Tenax securities.

What voting power does Vivo Opportunity have over Tenax Therapeutics (TENX) shares?

Vivo Opportunity Fund Holdings, L.P. and Vivo Opportunity, LLC each report sole voting power and sole dispositive power over 3,458,327 Tenax securities, with no shared voting or dispositive power.

How was Vivo Opportunity’s ownership percentage in Tenax Therapeutics (TENX) calculated?

The 9.0% ownership is based on 37,423,917 Tenax common shares outstanding as of July 28, 2026, plus 958,327 common shares issuable upon exercise of the reported pre-funded warrants.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:19 PM Accepted by SEC EDGAR 08/14/2026 - 04:11 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Tenax Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

88032L605

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 88032L605

1

Names of Reporting Persons

Vivo Opportunity Fund Holdings, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(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 3,458,327.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,458,327.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,458,327.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.0 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The number represents 2,500,000 shares of common stock, par value $0.0001 per share (the "Common Stock") of Tenax Therapeutics, Inc. (the "Issuer"), and pre-funded warrants to purchase 958,327 shares of the Issuer's Common Stock (the "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 percentage of class is based on 37,423,917 shares of Common Stock outstanding, as of July 28, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on July 31, 2026, plus 958,327 shares of the Issuer's Common Stock issuable upon the exercise of the Pre-Funded Warrants.

SCHEDULE 13G

CUSIP Number(s): 88032L605

1

Names of Reporting Persons

Vivo Opportunity, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(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 3,458,327.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,458,327.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,458,327.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The number represents 2,500,000 shares of Common Stock of the Issuer, and Pre-Funded Warrants to purchase 958,327 shares of the Issuer's Common Stock. 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 percent of class was based on 37,423,917 shares of Common Stock of the Issuer outstanding as of July 28, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the SEC on July 31, 2026, plus 958,327 shares of the Issuer's Common Stock issuable upon the exercise of the Pre-Funded Warrants.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Tenax Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 101 Glen Lennox Drive, Suite 300, Chapel Hill, North Carolina, 27517
Item 2.
(a)	Name of person filing: (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.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of the Reporting Persons is 192 Lytton Avenue, Palo Alto, CA 94301.
(c)	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.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 88032L605
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-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 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The shares reported in this Schedule 13G include 2,500,000 shares of Common Stock of the Issuer, and pre-funded warrants to purchase 958,327 shares of the Issuer's Common Stock (the "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.
(b)	Percent of class: Vivo Opportunity Fund Holdings, L.P. 9.0% Vivo Opportunity, LLC 9.0%*
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Vivo Opportunity Fund Holdings, L.P. 3,458,327 Vivo Opportunity, LLC 3,458,327
	(ii) Shared power to vote or to direct the vote: Vivo Opportunity Fund Holdings, L.P. 0 Vivo Opportunity, LLC 0
	(iii) Sole power to dispose or to direct the disposition of: Vivo Opportunity Fund Holdings, L.P. 3,458,327 Vivo Opportunity, LLC 3,458,327
	(iv) Shared power to dispose or to direct the disposition of: Vivo Opportunity Fund Holdings, L.P. 0 Vivo Opportunity, LLC 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 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.

Certifications:

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.

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.

Vivo Opportunity Fund Holdings, L.P.

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member of Vivo Opportunity, LLC, General Partner
Date:	08/14/2026

Vivo Opportunity, LLC

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member
Date:	08/14/2026