Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 135

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 135
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 make it more difficult for us to sell equity or equity-related securities in
the future at a time and at a price that we might otherwise wish to effect such sales.

Because the per share purchase
price that Ascent will pay for Purchase Shares in any Purchase that we may elect to effect pursuant to the Purchase Agreement will be
determined by reference to the VWAP during the applicable Valuation Period on the applicable Closing Date, as of the date of this prospectus,
we cannot determine the actual purchase price per share that Ascent will be required to pay for any Purchase Shares that we may elect
to sell to Ascent under the Purchase Agreement from and after Commencement and, therefore, we cannot be certain how many Purchase Shares,
in the aggregate, we may issue and sell to Ascent under the Purchase Agreement from and after Commencement. As of October 8, 2025, there
were 41,759,307 shares of our Common Stock outstanding, of which 34,982,922 shares were held by non-affiliates of our Company.
If all of the 42,211,548 Purchase Shares offered for resale by Ascent under this prospectus were issued and outstanding as of the date
hereof, such shares would represent approximately 50.3% of the total number of outstanding shares of Common Stock and approximately 54.7%
of the total number of outstanding shares of Common Stock held by non-affiliates of our Company, in each case as of October 8, 2025.

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Although the Purchase Agreement provides that we may sell up to $100,000,000
of our Common Stock to Ascent, only an additional 42,211,548 Purchase Shares are being registered under the Securities Act for resale
by Ascent under the registration statement which includes this prospectus. This amount is in addition to the 8,970,830 shares previously
registered for resale in our prior registration statement, which was declared effective on August 25, 2025, including 900,000 Commitment
Warrant Shares (for which we have not and will not receive any cash consideration). If we were to issue and sell all of such 42,211,548
Purchase Shares to Ascent at an assumed purchase price per share of $0.34, representing the closing sale price of our Common Stock on
Nasdaq on October 7, 2025, we would only receive approximately $14.4 million