Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 333

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 333
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Voting Rights

The holders of convertible
preferred stock shares are entitled to vote on all matters on which the common stockholders are entitled to vote. Each holder of convertible
preferred stock is entitled to the number of votes equal to the number of common stock shares into which the shares held by such holder
could be converted as of the Record Date. Holders of convertible preferred stock and common stock generally vote as a single class.

<div align='center'>F-45

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)</div>

Note 7 — Convertible Preferred Stock (cont.)

Dividends

Holders of convertible preferred
stock are entitled to receive dividends, when, as and if declared by the board of directors, at the annual rate of 8% of the original
issue price, payable in preference and priority to any declaration or payment of any distribution on common stock of the Company in such
calendar year. No distributions may be made with respect to the common stock unless dividends on the convertible preferred stock have
been declared and all declared dividends on the convertible preferred stock have been paid or set aside for payment to the holders of
the convertible preferred stock. Dividends are noncumulative, and none were declared as of December 31, 2024 and June 30, 2025.

Liquidation Preference

In the event of any liquidation,
dissolution, or winding up of the Company, the holders of Series C/C-1 convertible preferred stock shall be entitled to receive,
prior and in preference to any distribution of any of the assets of the Company to the holders of the Series B convertible preferred
stock, the Series A convertible preferred stock or common stock, an amount per share for each share of Series C/C-1 convertible
preferred stock held by them equal to the sum of the liquidation preference amount of respective original issue price per share, as adjusted
for any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event
(“anti-dilution adjustments”) plus all declared but unpaid dividends on such shares. Should the Company’s legally available
assets be insufficient to satisfy the liquidation preferences, the funds will be distributed with equal priority and pro rata among
the holders of Series C/C-1 convertible preferred stock in proportion to the