Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 138

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 138
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ited
pro forma condensed combined statements of operations for the six months ended June 30, 2025, and for the year ended December 31,
2024, present pro forma effect to the Business Combination as if it had been completed on January 1, 2024.

The Business Combination is
accounted for as a reverse recapitalization under U.S. GAAP. Under this method of accounting, NorthView will be treated as the
“acquired” company for financial reporting purposes. This determination is primarily based on Profusa Stockholders comprising
a relative majority of the voting power of Profusa (the combined entity) and having the ability to nominate majority of the members of
the New Profusa Board, Profusa’s operations prior to the acquisition comprising the only ongoing operations of New Profusa, and
Profusa’s senior management comprising the senior management of New Profusa. Accordingly, for accounting purposes, the financial
statements of New Profusa will represent a continuation of the financial statements of Profusa with the Business Combination treated as
the equivalent of Profusa issuing stock for the net assets of NorthView, accompanied by a recapitalization. The net assets of NorthView
will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination
will be presented as those of Profusa in future reports of New Profusa.

The unaudited pro forma condensed
combined financial statements have been presented for illustrative purposes only and do not necessarily reflect what the Combined Company’s
financial condition or results of operations would have been had the acquisition occurred on the dates indicated. Further, the pro forma
condensed combined financial information also may not be useful in predicting the future financial condition and results of operations
of the Combined Company. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected
herein due to a variety of factors. The unaudited pro forma condensed combined financial statements give effect to the warrants issued
in association with the Committed Equity Facility. Management has started drawing down on the ELOC and believes it is probable at this
point that all shares registered of 8,970,830 shares will be issued. As such, the Purchase Shares and have been reflected in the unaudited
pro forma condensed combined financial statements.

The historical financial information
of NorthView was derived from the unaudited financial statements of Northview as of and for the six months ended June 30, 2025, and
the aud