Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 330

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 330
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 the promissory notes was less than $0.1 million for each of the three and six months ended June 30,
2025 and 2024. The carrying value of the promissory notes as of June 30, 2025 and December 31, 2024 was $0.9 million and
$0.9 million, respectively.

Paycheck Protection Program

On May 25, 2021, the Company
borrowed $1.3 million (the “PPP Loan 2”) as a Paycheck Protection Program loan. The Paycheck Protection Program, established
as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, provides for loans to qualifying businesses and
is administered by the U.S. Small Business Administration (the “SBA”). The annual interest rate of the PPP Loan 2 is
1%.

Under the terms of PPP Loan
2, if the Company does not submit forgiveness application within 24 weeks the initial disbursement of the loan (the “Covered
Period”), the Company must begin to make equal monthly payments of principal and interest starting 10 months from the end of
the Covered Period until May 25, 2026. Interest on the loan continues to accumulate during any deferment period. As of June 30,
2025, the Company has not applied for forgiveness under PPP Loan 2.

As of December 31, 2024
and June 30, 2025, the Company was in default on PPP Loan 2 due to non-payment of minimal repayment amounts required by the terms
of PPP Loan 2. Accordingly, the Company classified the entire amount outstanding under PPP Loan 2 as current and accrued respective late
penalties for the total amount of less than $0.1 million as of June 30, 2025 and December 31, 2024, respectively. The total
past due amount of PPP Loan 2 repayments as of June 30, 2025 and December 31, 2024 was $1.0 million and $0.8 million,
respectively.

As of June 30, 2025, the
contractual future minimum payments for the PPP Loan 2 were as follows (in thousands):

| Year Ending December 31, 
 2025 (remainder)         |     | Amount | 1,245 |
|:-------------------------|:----|:-------|------:|
| 2026                     |     |