Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 151

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 151
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 variable number of shares at a variable issuance price, based on the then current market rates, less
a fixed discount. The number of shares registered to date related to the ELOC facility are expected to be issued, which totals 51,182,378
shares, made up of the 8,970,830 shares previously registered and an additional 42,211,548 shares being registered, which is calculated
as the maximum number of shares able to be registered based on authorized shares of 300,000,000. The Company has now started to draw on
the ELOC and has estimated the issuance price based on the last actual conversion price of .4743 for the first tranche of shares registered,
which is based on the VWAP on August 26, 2025, and an estimated conversion price of $0.14 to align with the floor price as defined by
the agreement for this next tranche of 42,211,548 shares being registered, as seen in Tickmark (T) on the unaudited pro forma balance
sheet.

Pursuant to the Purchase Agreement,
900,000 Commitment Warrant Shares are issuable upon exercise of the Commitment Warrants we issued to Ascent upon our execution of the
term sheet relating to the Purchase Agreement on July 20, 2025, as consideration for its commitment to purchase shares of our Common Stock
that we may, in our sole discretion, direct Ascent to purchase from us pursuant to the Purchase Agreement. The Commitment Warrants have
an exercise price of $0.01 and may be exercised for cash or, if at the time of exercise there is no effective registration statement covering
the resale of the Commitment Warrant Shares, on a cashless basis. The warrants issued to Ascent are currently being analyzed for their
accounting treatment, which the Company expects to be equity classified based on their cashless exercise option. As such, the Company
will finalize the accounting conclusions on these warrants, and validate their equity classification for the upcoming September 30, 2025
financial statements. As the Company has drawn on the ELOC facility, the 900,000 warrants were issued to Ascent and have been included
within the unaudited pro forma financial statements at their fair value as calculated using the Black Scholes valuation method.

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3. Accounting Policies and Reclassifications

Upon consummation of the Business
Combination, management has performed a comprehensive review of