Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 270

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 270
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 other financing instruments NorthView and Profusa were evaluating, the terms were not as favorable and the group discussed mechanisms to provide the company with cash sooner. The following terms were presented and discussed in the meeting: •$25 million secured Convertible Notes with 5 million detachable warrants and 12.5% OID to be funded over multiple tranches at 9% interest •1 sttranche $5 million of funding at closing of business combination agreement, less OID •2 ndtranche $5 million, subject to trading conditions •3 rdtranche $7.5 million, subject to trading conditions •4 thtranche $10 million, subject to trading conditions On March 29, 2023, HCW presented Vellar’s updated terms based on discussions in the prior meeting. The key term changes were decreasing the OID from 12.5% to 10%, increasing the second tranche from $5 million to $7.5 million and decreasing the proposed warrants. The closing of the Convertible Note was also conditioned by a $10 million private placement into Profusa prior to the close of the Business Combination. On April 20, 2023, Vellar, NorthView and Profusa had an update call to review the proposed change in terms. After the meeting, Vellar informed NorthView management of its continuing interest in Profusa, however Vellar was not able to commit to an investment at that time. Benchmark Capital identified a potential SPAC investor and coordinated an introductory Zoom call with Atalaya Capital Management LP (“Atalaya”) on April 27, 2023. Atalaya does not have relationships or affiliations with NorthView or its Sponsor. Follow up calls on May 1, 2023 and May 3, 2023 were conducted to discuss potential investment instruments and terms and on May 5, 2023 Atalaya presented draft terms for a Senior Convertible Note and Redemption Recapture Agreement. Key terms were: Senior Convertible Note key terms: •$26 million (and up to $100 million) secured Convertible Notes with 1.3 million detachable warrants (reference price of $13 million) and 10% OID to be funded over multiple tranches at 10% interest; •1 sttranche $3 million of funding at the Closing of the Merger, less OID. The Issuer and Atalaya shall mutually work towards defining the remaining tranches after the transaction has been executed; •2 ndtranche $3 million,