Company: PFSA
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079829
Chunk: 389

Company: Profusa, Inc.
Filing Date: 2025-08-22
Form: S-1/A
Chunk 389
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 public stockholders having the right to exchange their shares of common stock for cash, securities or other property (the “Lock -up”). Notwithstanding the foregoing, if the last sale price of the Company’s common stock equals or exceeds $ 12.00per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20trading days within any 30 -tradingday period commencing at least 150 days after the initial Business Combination, the Founder Shares will be released from the Lock -up. Convertible Promissory Note — Related Party On April 27, 2023, the Company signed a Convertible Working Capital Promissory Note (“the Note”) with the Sponsor for $ 1,200,000. The Note is non -interestbearing and is due the earlier of the consummation of a business combination or the date of liquidation. The Sponsor may elect to convert all or any portion of the unpaid principal balance of this Note into warrants, at a price of $ 1.00per warrant. On January 10, 2024, the Company’s Board of Directors approved, and the Company amended the Note to increase the principal amount of the Note that could be drawn on to $ 1.5million. The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $ 2.22per share at the election of the sponsor. On May 31, 2024, the Company’s Board of Directors approved and the Company entered into a second amendment of its Convertible Working Capital Promissory Note with the sponsor to increase the principal amount of the Note that could be drawn on to $ 2.5million. The second amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $ 2.22per share at the election of the sponsor. As of June 30, 2025 and December 31, 2024, the Company had principal outstanding of $ 1,919,796and is presenting the Note at fair value on its balance sheet at June 30, 2025 and December 31, 2024 in the amount of $ 10,288,111and $ 8,908,052, respectively. The Company has deferred the repayment of the Note to six months after