Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 35

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 of NorthView. In connection with the Merger, NorthView will change its name to “Profusa, Inc.”

The Business Combination is subject to customary
closing conditions, including the satisfaction of the minimum available cash condition of $15,000,000, the receipt of certain governmental
approvals and the required approval by the stockholders of NorthView and Profusa. There is no assurance that the Business Combination
will be completed.

19

On February 11, 2025, the parties to the Merger
Agreement entered into Amendment No. 4 to the Merger Agreement (the “Amendment”) pursuant to which the parties agreed to
revise the Company Reference Value (as defined in the Merger Agreement) to adjust for financing proceeds received by Profusa prior to
the Business Combination, along with debt conversions and incentive shares to be issued. Additionally, the Amendment (i) revised the
definition of “Milestone Event III” such that the parties extended the period for Profusa to consummate the APAC Joint Venture
(as defined in the Merger Agreement) and receive the related funding from December 31, 2024 until December 31, 2025, and (ii) revised
the definition of “Milestone Event IV” to change the earnout revenue target from $99,702,000 for the fiscal year ended December
31, 2025 to an earnout revenue target of $11,864,000 for the fiscal year ended December 31, 2026.

Advisory Agreement

On December 19, 2024, the Company engaged A.G.P
to serve as the placement agent in connection with a proposed business combination transaction. The Company shall pay to A.G.P. a cash
fee (the “Cash Fee”) equal to 9.0% in a convertible note offering, note, or other similar equity-linked offerings, and shall
be calculated from the face value of notes issued, which is payable at the close of a Business Combination. If the Business Combination
does not successfully close, A.G.P. will not be entitled to any cash fee.

Securities Purchase Agreement

On February 11, 2025, in a private transaction,
the Company entered into a securities purchase agreement (the “SPA”) with an institutional investor (the “Investor”).
Pursuant to the SPA, the Investor is expected, subject to the conditions relating to such purchase set forth in the SPA, to purchase from
the Company’s senior secured