Company: PFSA
Filing Date: 2025-08-25
Form Type: 424B3
Source: 0001213900-25-080387
Chunk: 302

Company: Profusa, Inc.
Filing Date: 2025-08-25
Form: 424B3
Chunk 302
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 the Black Scholes option -pricingmodel. The fair value of stock options is being recognized on a straight -linebasis over the requisite service period of the awards. Nonrecourse Promissory Notes to Early Exercise Stock Options In 2018, one of the Company’s executives early exercised 1,380,015 of his stock options by issuing a promissory note to the Company. As the promissory note is nonrecourse this exercise of stock options with a promissory note is not considered a substantive exercise for accounting purposes. Therefore, no receivable for the promissory note was recorded on the Company’s balance sheet. This arrangement was accounted for as modifications to the original stock options which were exercised by issuing a promissory note. Such modification did not result in additional stock -basedcompensation expense. As of June 30, 2025 these options were fully vested. Stock-Based Compensation Expense by Function The following table is a summary of stock compensation expense by function recognized for the three and six months ended June 30, 2025 and 2024 (in thousands):

|                          |     | Six months ended June 30, | 2025 |     |   | 2024 |
|:-------------------------|:----|:--------------------------|-----:|:----|:--|-----:|
| General Administrative   |     | $                         |   33 |     | $ |    4 |
| Research and development |     |                           |   54 |     |   |    7 |
|                          |     | $                         |   87 |     | $ |   11 |

|                          |     | Three months ended June 30, | 2025 |     |   | 2024 |
|:-------------------------|:----|:----------------------------|-----:|:----|:--|-----:|
| General Administrative   |     | $                           |   31 |     | $ |    2 |
| Research and development |     |                             |   51 |     |   |    4 |
|                          |     | $                           |   82 |     | $ |    6 |

Note 10 — Related Party Transactions The Company issued convertible notes (also referred to as junior notes), Tasly convertible debt and promissory notes to certain shareholders. Refer to Note 5 for detail. Note 11 — Net Loss per Share Attributable to Common Stockholders Net loss per common share is calculated in accordance with