Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 328

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 328
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2022). These notes were issued at the same 12% interest terms as all of their other Senior Secured Convertible
Notes, and will convert into New Profusa shares at $0.50 per share. These notes have an 18-month maturity, which will be accelerated and
convert into New Profusa shares upon the successful closing of the business combination.

Additionally, the Company issued
$0.3 million in Senior Notes repayable upon the closing of the Business Combination which accrue interest at 0%.

Of the $27.9 million of
Senior Notes, $10.0 million is outstanding with related parties and $17.9 million is outstanding with unrelated parties as of
June 30, 2025. 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.

The annual effective interest
rate of Senior Notes was estimated from 0% to 12.15% and 0% to 12.55% per year for the six months ended June 30, 2025 and 2024,
respectively. The interest expense for the three months ended June 30, 2025 and 2024 was $0.6 million and $0.5 million,
respectively. The interest expense for the six months ended June 30, 2025 and 2024 was $1.2 million and $1.0 million,
respectively.

As of June 30, 2025, future
minimum payments for the convertible notes payable were as follows (in thousands):

|                                 |     | Convertible 
 Notes       |        |   |     | Tasly       
 Convertible 
 Debt        |       |   |     | Senior 
 Notes  |        |   |
|:--------------------------------|:----|:------------|-------:|:--|:----|:------------|------:|:--|:----|:-------|-------:|:--|
| As of June 30, 2025             |     | $           | 19,603 |   |     | $           | 2,287 |   |     | $      | 26,003 |   |
| Total future payments           |     |             | 19,603 |   |     |             | 2,287 |   |     |        | 26,003 |   |
| Less: