UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Provectus Biopharmaceuticals, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

74373F100

(CUSIP Number)

Courtlandt G. Miller

251 Royal Palm Way, Suite 205

Palm Beach, FL 33480

(561) 543-6802

with copies to:

David W. Bernstein, Esq.

Goodwin Procter LLP

620 Eighth Avenue

New York, NY 10018

(212) 813-8808

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

March 19, 2017

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box  ☐.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

(Continued on following pages)

This Schedule 13D (this “Statement”) relates to common stock, par value $0.001 per share (“Common Stock”), of Provectus Biopharmaceuticals, Inc. (the “Issuer”). The address of the principal executive office of the Issuer is: 7327 Oak Ridge Highway, Suite A, Knoxville, Tennessee 37931.

The Reporting Persons in the aggregate own beneficially more than 5% of a class of equity securities of the Issuer.

(d) – Not applicable.

(e) – Not applicable.

(f) – All individual Reporting Persons are U.S. citizens. Times 11 LLC is a Delaware limited liability company that was formed on March 23, 2011.

Not applicable.

On February 28, 2017, a person representing the Reporting Persons (“Investors”), informed the Issuer that, if investor commitments for at least $8 million were obtained, the Investors proposed to purchase for between $8 million and $20 million units consisting of common stock and a new Preferred Stock of the Issuer. The communication included a draft Term Sheet relating to the proposed investment. As the Issuer was told that at that time, the Investor commitments were less than the minimum amount necessary to cause agreements regarding the commitments that had been made to be effective. Therefore, the Investors’ commitments were not at the time effective. One of the conditions to the proposed financing was that all the officers and directors of the Issuer resign and persons designated by the Investors be elected to the Board.

On March 4, 2017, the Issuer issued a press release in which it announced that it had received a proposal from two investor groups, one of which was the Investors. On the same day, the Issuer’s lawyers sent a lawyer for representatives of the Investors a brief comparison of the two financing proposals and said that the Issuer’s Board had deemed the Investor proposal to be far inferior to the other proposal. On March 8, a representative of the Investors responded, through lawyers, that the Investors had no interest in investing on the terms of the other proposal, and in view of the Board’s belief that the Investor proposal was far inferior to the other proposal,

the Investors were withdrawing their proposal. However, the representative of the Investors said that if the other group is not able to provide the described financing, or for any other reason the Issuer’s Board decides that it would like to pursue a financing by the Investors on the terms they had proposed, the principal Investors would try to revive that proposal.

Despite the fact that the Investors had withdrawn their proposal, in order to be prepared to provide funds they believe are critical to the Issuer if the Issuer asked them to revive their proposal, by March 19, 2017, all the Investors agreed that they would commit to invest even though there were only $6 million in commitments. Therefore, their commitments became effective.

On March 20, 2017, the Issuer announced that it had entered into a Definitive Financing Commitment Term Sheet with a group of its shareholders. The press release containing that announcement said that the Issuer had previously received two unsolicited proposals relating to potential equity financings and that its board of directors had rejected the Investors’ proposal because, among other reasons, “the financial terms of [the proposal] were determined to be detrimental to the future of the Company as an ongoing concern.” On March 23, 2017, the Issuer filed a Report on Form 8-K with the Securities and Exchange Commission in which it described the terms of an amended and restated Definitive Commitment Term Sheet. What it described was a financing in the form of a secured convertible loan, secured by a first priority security interest in the Issuer’s intellectual property.

On March 24, 2017, a representative of the Investors sent a letter to the directors of the Issuer in which he said that the transaction described in the Form 8-K would constitute a waste of corporate assets and that unless the Investors receive assurance by March 27, 2017 that the Issuer will not enter into the transaction described in the Form 8-K, they are going to institute litigation in the Delaware courts to prevent the Issuer from entering into that transaction and to hold the directors personally liable for the costs the Issuer has incurred in connection with that transaction and in connection with a recently terminated rights offering.

On March 27, a lawyer for the Issuer responded by stating that if the Investors made a proposal that did not involve Peter R. Culpepper, the Issuer’s Board would consider it. On March 28, 2017, the representative of the Investors responded that they would accept that condition and stated that the Investors would like to begin right away working on the documents regarding the financing transaction they have proposed.

(a)—The aggregate number of Shares to which this Schedule 13D relates is 28,806,558 shares, representing 7.90% of the 364,773,297 shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities Exchange Commission on November 9, 2016, adjusted to take account of a reset which resulted in the issuance of additional shares. The Reporting Persons own those shares as follows:

Jeffrey A. Morris purchase 1,000,000 shares of the Issuer’s common stock on March 24, 2017 at $0.041 per share and 1,000,000 shares of the Issuer’s common stock on March 27, 2017 at $0.047 per share.

Hugh Nolan purchased 55,000 shares of the Issuer’s common stock on February 1st, February 8, 2017 at $0.02.

Item 6. Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer

Not applicable.

Exhibit 1 – Joint Filing Agreement

Exhibit 2 – Form of Amended Investment Agreement

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.

Exhibit 1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons who executes a copy of this Joint Filing Agreement agrees to the joint filing on behalf of each of them of a Statement on Schedule 13D relating to securities of Provectus Biopharmaceuticals, Inc., and of amendments to that Schedule 13D, and agrees to the filing of this Joint Filing Agreement as an exhibit to the Schedule 13D.

Exhibit 2

AMENDED INVESTMENT AGREEMENT

This is an amended and restated agreement (this “Amended Agreement”) among each of the persons (each an “Investor,” and together the “Investors”) who signs a signature page to this Amended Agreement (a “Signature Page”) regarding the terms on which each of the Investors agrees that, upon fulfillment of certain conditions, it will purchase Units consisting of Series D Preferred Stock (“Series D Stock”) and common stock (“Common Stock”) of Provectus Biopharmaceuticals, Inc. (“Provectus”), a Delaware corporation.

By executing and delivering a Signature Page, each Investor agrees as follows:

1.1 Subject to the conditions set forth below, the Investor agrees to purchase from Provectus the number of Units set forth on the Investor’s Signature Page for $100,000 per Unit and to contribute to the expenses related to the proposed purchase of Units as provided in Section 5 below.

1.2 The purchase of the Units from Provectus will take place on a date (the “Purchase Date”) determined by the Investor Representative named in Section 6.1, which will be not earlier than April15, 2017. At least two business days before the Purchase Date, the investor will, at the request of the Investor Representative, transfer to a bank account designated by the Investor Representative, in immediately available funds, the sum equal to the purchase price for all the Units that the Investor is purchasing as set forth on the Investor’s Signature Page.

1.3 Each Unit will consist of one share of Series D Stock and 1,100,000 shares of Common Stock.

2.1 The terms of the Series D Stock will be substantially as set forth on the Term Sheet that is Exhibit A to this Amended Agreement, with such modifications, if any, as may be approved by Investors who, based on executed Signature Pages, have agreed to purchase a majority of the Units which all the Investors have agreed to purchase (“Majority Investors”).

3.1 Investors will have agreed by signing Signature Pages to purchase a total of at least 60 Units for $100,000 per Unit.

3.2 Provectus will have entered into an agreement with terms that are approved on behalf of the Investors by the Investor Representative in which Provectus has agreed to sell up to 200 Units to the Investors for $100,000 per Unit.

3.3 The Board of Directors of Provectus (the “Provectus Board”) will have adopted a Certificate of Designations relating to the Series D Stock that will contain terms complying with Section 2.1 of this Amended Agreement.

3.4 The Provectus Board will have (a) elected the persons listed on Exhibit B to this Amended Agreement, or other persons approved by the Investor Representative, to become the directors of Provectus effective upon closing of the purchase by Investors of at least 60 Units (the “Unit Purchase Effective Time”), and (b) except as approved by the Investor Representative, the current members of the Provectus Board and the current officers of Provectus all will have resigned from their positions as members of the Provectus Board or as officers of Provectus, with those resignations to be effective at the Unit Purchase Effective Time.

4.1 The Investor has all authority and all authorizations and approvals that are necessary to enable the Investor to enter into this Amended Agreement and to fulfill all the Investor’s obligations under this Amended Agreement without requiring the consent or approval of any person or any governmental authority that has not already been obtained.

4.2 This Amended Agreement is a valid and binding agreement of the Investor and is enforceable against the Investor in accordance with its terms, subject to the effects of bankruptcy laws and other laws affecting the enforceability of contracts generally.

4.3 The Investor’s entering into this Amended Agreement and fulfilling the Investor’s obligations under this Amended Agreement will not violate, or constitute a breach of, any order of any court or governmental agency to which the Investor is subject or any agreement to which the Investor is a party or by which the Investor is bound.

4.4 The Investor is an “accredited investor” as that term is used in Rule 501(a) of Securities and Exchange Commission Regulation D under the Securities Act of 1933, as amended.

4.5 The Investor has available out of the Investor’s own funds or out of credit arrangements that are currently in place all the funds the Investor will need to fulfill the Investor’s obligations under Section 1.1.

4.6 The Investor will be purchasing the Units for investment, and not with a view to distributing them. Without limiting what is said in the preceding sentence, the Investor is aware that there is no market for Series D Stock and there is not likely to be a market for Series D Stock in the future. The Investor is also aware that Provectus is in the process of seeking Federal Drug Administration approval of prescription drug candidates, but that there is no assurance that FDA approval will be obtained or that if it is obtained Provectus will be able successfully to market the prescription drugs that are approved. Therefore, there is a significant risk that the Investor’s entire investment in Units will be lost.

5.1 The Investor agrees that it will pay $5,000 per Unit, in non-accountable expenses incurred in connection with the agreement with the Prospectus Board regarding the purchase of Units by the Investors, the negotiation on behalf of the Investors of a Unit Purchase Agreement between Provectus and the Investors, and all other matters relating to the proposed purchase of Units by the Investors, including among other expenses, legal fees and expenses, public relations and other communications fees, and fees and expenses of the Investor Representative, the Investor shall not be liable for any expenses in excess of $5,000. The Investor is immediately transmitting to Lionheart Biotech LLC (a company formed by the Investor Representative in connection with the Investors’ proposed purchase of Units) $2,500 for each Unit the Investor has agreed to purchase. The Investor will remit to Lionheart Biotech LLC from time to time, promptly after requests from the Investor Representative, additional amounts up to a maximum of an additional $2,500 per Unit (increasing the Investor’s total payment of expenses to a maximum of $5,000 per Unit).

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6.1 The Investor appoints Courtlandt Miller (the “Investor Representative”) to act as the Investor’s representative in connection with a proposal to the Prospectus Board regarding the purchase of Units by the Investors, the negotiation on behalf of the Investors of a Unit Purchase Agreement between Provectus and the Investors, and all other matters relating to the proposed purchase of Units by the Investors.

6.2 Any document signed on behalf of the Investors by the Investor Representative will be binding upon the Investor and all the other Investors with the same effect as though it had been signed by the Investor and each of the other Investors individually.

6.3 The Investor appoints the Investor Representative as the agent and attorney in fact for the Investor, with full power of substitution, to execute agreements and other documents relating to a proposal by the Investors to purchase Units from Provectus and otherwise relating to the purchase of Units by the Investors.

6.4 If the Investor Representative requests that the Investor provide to the Investor Representative a separate document containing a power of attorney substantially similar to that contained in Section 6.3, the Investor will promptly execute and deliver to the Investor Representative the separate document requested by the Investor Representative.

6.5 The Investor Representative will inform the Investor and the other Investors of all significant acts taken by the Investor Representative on behalf of the Investors, and will otherwise keep the Investor and the other Investors informed of the status of the Investors’ proposal to purchase Units from Provectus and the response of the Provectus Board to that proposal.

6.6 The Investor Representative will be entitled to compensation for acting in that capacity as described on Exhibit C to this Amended Agreement. The Investor Representative will also be entitled to reimbursement for all expenses he reasonably incurs in fulfilling his responsibilities under this Amended Agreement (which expenses will be part of the expenses described in Section 5.1).

7.1 The Investor is aware that the Investors’ determination to make a joint proposal to purchase Units may cause the Investors to be part of a group that will constitute a “person” for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, with the result that the Investors may have to file with the Securities and Exchange Commission (“SEC”) a Notification on Schedule 13D as members of a group, make filings under the SEC proxy rules or make other filings with the SEC. The Investor either has, or will promptly after signing the Signature Page to this Amended Agreement, provide the Investor Representative with all information regarding the Investor and the Investor’s relationships with Provectus or transactions in Provectus stock that is required to be included in a Notification on Schedule 13D, any filing under the proxy rules, or any other document that is filed on behalf of the Investors with the SEC.

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7.2 Any information provided by the Investor for inclusion in a Notification on Schedule 13D or another document to be filed with the SEC will be complete in all material respects and will not contain a misstatement of a material fact or omit to state a material fact that is necessary to make the statements that are made, in light of the circumstances under which they are made, not misleading.

7.3 The Investor appoints Courtlandt Miller as the Investor’s true and lawful attorney-in-fact and agent, with full powers of substitution, to sign for the Investor in the Investor’s name any or all Notifications on Schedule 13D and any or all other documents, and all amendments to Notifications on Schedule 13D or other documents, that may be filed with the Securities and Exchange Commission relating to a proposal by the Investors to purchase Units from Provectus or the purchase of Units by the Investors, and all exhibits to Notifications and other documents filed with the Securities and Exchange Commission.

7.4 If the Investor Representative requests that the Investor provide to the Investor a separate document, or a signature page to a document being filed with the SEC, containing a power of attorney substantially similar to that contained in Section 7.3, the Investor will promptly execute and deliver to the Investor Representative the separate document or signature page requested by the Investor Representative.

7.5 Notwithstanding Sections 7.3 and 7.4, the Investor will, at the request of the Investor Representative, promptly execute and deliver to or as directed by the Investor Representative, any documents the Investor Representative reasonably requests for filing with the SEC, including, if the Investor Representative requests it, a Joint Filing Agreement relating to Notifications on Schedule 13D.

8.1 The Investor is aware that information about the proposal to acquire Units may constitute material non-public information regarding Provectus and that the Investor Representative is the only person authorized by the Investors to make public statements about that proposal or any agreement with Provectus relating to the purchase of Units by the Investors. The Investor agrees not to disclose to anyone any information regarding the Investors’ proposal to acquire Units or any agreement with Provectus relating to the purchase of Units by the Investors, except to the extent that information has been disclosed in filings with the SEC or has otherwise been disclosed to the public, and except that nothing in this Section 8.1 will prevent any Investor from including all required information in all filings the Investor is required to make with the SEC or any other governmental agency. The Investor acknowledges that the Investor is aware that it may be unlawful for the Investor to purchase or sell securities of Provectus while in possession of information regarding the Investors’ proposal to acquire Units that could constitute material non-public information regarding Provectus.

9.1 The Investor is executing a Signature Page in reliance on the fulfillment by all Investors who execute Signature Pages of their obligations under this Amended Agreement, and the Investor is aware that each of the other Investors is going to rely on the fulfillment by the Investor of his or its obligations under this Amended Agreement. Therefore, this Investment Agreement is intended to constitute a binding agreement of the Investor and to be enforceable against the Investor by other Investors, acting separately or through the Investor Representative.

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9.2 This Amended Agreement is solely for the benefit of the Investors, and is not intended to be enforceable by Provectus or any other person, except that persons who render services or incur expenses of the type described in Section 5.1 can enforce the obligations of the Investors to pay their pro-rata shares of fees and expenses as required by Section 5.1.

9.3 This Amended Agreement contains the entire agreement of the Investors regarding the purchase of Units from Provectus, and supersedes all prior agreements or understandings relating to the purchase by some or all of the Investors of securities of Provectus. No Investor has relied in deciding to agree to purchase Units on any representations and warranties by any other Investors or by any other persons other than the representations and warranties of the Investors contained in the Investment Agreements as to which they have executed Signature Pages.

9.4 This Amended Agreement may be amended by, but only by, a document executed by Majority Investors.

9.5 This Amended Agreement will be governed by, and construed under, the laws of the State of Delaware, without regard to any principles of conflicts of laws that would apply the laws of any other jurisdiction.

9.6 Any notice or other communication to the Investor under or relating to this Amended Agreement must be in writing and will be deemed given when it is delivered in person or sent by facsimile or electronic transmission, on the first business day after the day on which it is delivered to a nationally recognized overnight delivery service marked for next business day delivery, or on the third business day after the day when it is mailed from within the United States of America by first class mail, addressed to the address, facsimile number or email address set forth on the Signature Page executed by the Investor.

9.7 The amendments effected by this Amended Agreement will be effective and binding on the Investor when the Investor delivers to the Investor Representative an executed Signature Page.

9.8 This Amended Agreement will terminate, and neither the Investor nor any other Investors will have any obligations under this Amended Agreement, other than their obligations under Section 5.1, (a) at any time when the Investor Representative notifies the Investors that in his view Provectus will not agree to sell Units to the Investors on the terms described in this Amended Agreement or any other terms that the Investor Representative believes might be acceptable to the Investors, or (b) if the closing of the sale of Units to the Investors does not take place by May 31, 2017.

(Signatures on separate Signature Pages)

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SIGNATURE PAGE TO

AMENDED INVESTMENT AGREEMENT

RELATING TO UNITS CONSISTING OF

PREFERRED STOCK AND COMMON STOCK OF

PROVECTUS BIOPHARMACEUTICALS, INC.

Name of Investor (please print clearly)                                                                  

Number of Provectus Units to be purchased                                              

Total purchase price ($100,000 per Unit) $                                     

By executing this Signature Page, the Investor who executes it agrees to be legally bound by the Amended Investment Agreement to which it relates, including, but not limited to, (a) the agreement to pay the total purchase price of the Units shown above, (b) the agreement to pay a sum with regard to the expenses incurred in connection with the proposed purchase of Units by Investors, (c) the appointment of Courtland Miller as Investor Representative, and (d) the appointment of the Investor Representative as agent and attorney in fact for the Investor to take specified actions on behalf of the Investor. The Investor further confirms that all the representations and warranties in Section 4 of the Amended Investor Agreement are true and correct as to the Investor.

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EXHIBIT A

Purchase Proposal Term Sheet

The following summary describes the principal terms of a proposed offer to Provectus Biopharmaceuticals, Inc. (the “Company”) by a group of investors to purchase the below described securities of the Company.

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EXHIBIT B

POST-CLOSING DIRECTORS

Peter Culpepper

Charles Littlejohn

Courtlandt G. Miller

Scott Palmer

Calvin A. Wallen III

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EXHIBIT C

Compensation of Investor Representative

By signing the Signature Page of the Investment Agreement of which this Schedule is a part, the Investor agrees that in consideration for the services of the Investor Representative in the structuring, negotiation and implementation of the proposal for the Investor and other Investors to purchase Units, the Investor will do the following (all terms used in this Schedule C that are defined in the Investment Agreement have the same meanings in this Schedule C as they have in the Investment Agreement):

Common Stock:

When the Units are issued, the Investor will transfer to the Investor Representative 100,000 shares of Common Stock with regard to each Unit that the Investor Purchases. At the closing of the purchase of the Units, the Investor will instruct the Company to issue 1,000,000 shares of Common Stock included in each Unit to the Investor and 100,000 shares of Common Stock included in each Unit to, or as instructed by, the Investor Representative.

Series D Stock – Revenue Sharing Payments:

At the Closing of the purchase of Units, each Investor will assign to the Investor Representative or his assigns the right to receive 10% of all Revenue Sharing Payments in excess of $200,000 made with regard to each share of Series D Stock acquired by the Investor as part of the Units (“Revenue Sharing Participation”).

By way of example, in the event that the Company makes Revenue Sharing Payments of $200,000 on each share of Series D Stock, then no Revenue Sharing Participation payments shall be required. In the event that the Company makes Revenue Sharing Payments of $1,100,000 on each share of Series D Stock, then the Investor Representative shall be entitled to Revenue Sharing Participation payments of $90,000 with regard to each share of Series D Stock ($1,100,000 minus $200,000 = $900,000; 10% x $900,000 = $90,000).

The right of the Investor Representative or his assigns to receive Revenue Sharing Participation payments will continue regardless of whether the Investor continues to own Series D Stock. If the Investor or any subsequent holder of Series D Stock transfers any Series D Stock, the Investor or subsequent holder will inform the transferee of the right of the Investor Representative or his assigns to receive Revenue Sharing Participation payments, and that right will be noted on the certificates representing Series D Stock.

All Revenue Sharing Participation payments will be paid directly by the Company to the Investor Representative or his assigns. Sums paid by the Company to the Investor Representative will be credited against the Revenue Sharing Payments required by the Certificate of Designations relating to the Series D Stock to be made by the Company to the holders of the Series D Stock.

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