Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 41

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 on the principal and accrued interest as of July 11, 2025. Senior Convertible Notes with an outstanding balance of
$20.6 million in principal and accrued interest converted into 5,143,898 shares of Company Common Stock at $4.00/share, Senior Convertible
Bridge Notes of $3.1 million in principal and accrued interest were repaid in cash in the amount of $0.2 million with the remaining $2.9
million converted into 1,294,590 shares of Company Common Stock at $2.22/share, Senior Secured Convertible Notes of $2.8 million in principal
and accrued interest converted into 5,542,261 shares of Company Common Stock at $0.50/share. Of the 5,542,261 shares of Company Common
Stock issued to Senior Secured Note holders, 710,220 shares were contributed by the Sponsor. As such, most of these notes were converted
into Company Common Stock upon the Closing.  As of September 30, 2025, $0.3 million remained outstanding.

23

Of the $0.3 million of Senior Notes remaining, $0 is outstanding with
related parties and $0.3 million is outstanding with unrelated parties. Additionally, of the $25.3 million of Senior Notes outstanding
on December 31, 2024, $9.5 million was outstanding with related parties and $15.8 million was outstanding with unrelated parties.

Loans Payable - Related Party at fair value

On February 11, 2025, NorthView executed a Securities Purchase Agreement
(the “PIPE Subscription Agreement”) with Ascent Partners Fund LLC (“Ascent”, and together with any additional
investors who become parties to the PIPE Subscription Agreement, the “PIPE Investors”). Pursuant to the PIPE Subscription
Agreement, the PIPE Investors are expected, subject to the conditions relating to such purchase set forth in the PIPE Subscription Agreement,
to purchase from NorthView senior secured convertible notes in an aggregate principal amount of up to $22,222,222 (the “PIPE Convertible
Notes”) for an aggregate purchase price of up to $20,000,000, reflecting a 10% original issue discount to the face amount (“OID”).

As of the Closing on July 11, 2025 Northview was presenting the PIPE
Subscription Agreement at fair value on its balance sheet in the amount of $3.9 million which was brought over to the Company’s
combined balance