Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 256

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 256
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 and Company C was incorporated outside of the United States which was determined to likely result in additional complications and delays for a potential business combination. •Company D: After discussions with Company D’s management team, NorthView believed that the company’s working capital needs were beyond the combined group’s fundraising ability based upon changing market conditions. •Company E: NorthView’s due diligence findings indicated that Company E was not meeting revenue forecasts, needed to raise additional working capital, and that PCAOB audited financial statements were not expected to be available on a timely basis. Further, Company E as incorporated outside of the United States which was determined to likely result in additional complications and delays for a potential business combination. •Company F: After initial diligence, NorthView determined that the projected market size, capitalization and time to market for the company’s product was too small and/or would not meet NorthView’s minimum requirements. •Company G: On May22, 2022 NorthView did an assessment of the expected terms for a non -exclusiveletter of intent, and determined that Company G was not able to commit to an acceptable timetable for the business combination process. Additionally, NorthView found that the company was early -stage, had limited management personnel, and was fully engaged in establishing product distribution outside of the United States, which were not favorable factors from NorthView’s perspective. •Company H: NorthView’s diligence findings indicated that Company H did not have PCAOB audited financial statements available and that its management, in our opinion, was not committed to expending the resources necessary to consummate a business combination. NorthView provided a non -exclusiveletter of intent dated October31, 2022 but never received a response from Company H. •Company I: Company I was introduced to NorthView by a broker -dealerknowledgeable in Company I’s industry. After completing its initial diligence, NorthView presented proposed terms for a non -exclusiveletter of intent to Company I’s management, however there was no further discussion or follow -upfrom Company I’s management. Background to Negotiation of Material Terms of the Profusa Transaction The terms regarding the valuation of Profusa were critical to NorthView’s decision to enter into the letter of intent on June 13, 2022, especially as the market for special purpose acquisition companies (“SPACs”) was changing and the environment for raising capital and closing “de -SPAC” transactions was worsening. In assessing the potential business combination, NorthView focused on a number of key qualitative criteria which it considered to be of far