Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 275

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 275
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,400,000 Founder Shares to be transferred to Vellar. The Company informed Vellar that it would be seeking an up to $20 million private placement fundraise at $2.22 per share, and Vellar decided to consider the private placement offering and would evaluate NorthView and Profusa’s terms and respond. 134 After contemplating NorthView and Profusa’s term sheet, NorthView and Profusa received an email from HCW on February 5, 2024, describing an offering from Vellar and another investor to be determined by Vellar, whereby Vellar would lead a $4 million private placement purchase at $2.00 per share versus NorthView and Profusa’s $2.22 price per share, along with a 4,000,000share Forward Purchase Agreement (FPA), with a condition precedent that no other structured agreements, such as a Senior Convertible Note or Equity Line of Credit would be in place. It was also noted by management of Profusa that two high potential private placement investors were currently awaiting lead investor terms. On February 6, 2024, Vellar provided a revised non -bindingterm sheet including a response to questions/issues previously raised by NorthView and Profusa, which increased the private placement from $4 million to $5 million and increased the FPA from 4.0 million shares to 5.0 million shares, and also provided detailed terms of the FPA, including a tenor of 6 to 36 months, a reference price of $10.00 per share and a settlement amount adjustment of $2.00 per share. On February 7, 2024, a Zoom call took place between management of NorthView, Profusa and Vellar to review the terms they were proposing and on February 8, 2024, Vellar provided a further updated draft term sheet that was a binding term sheet. The draft binding term sheet limited the amount of cash transaction expense to be paid by NorthView and Profusa at Closing to $1.5 million, provided for additional funding to New Profusa of up to $1.0 million 90 days after Closing which could be used to pay deferred transaction expenses, with the amount of such additional funds to be netted against the amount due at settlement of the transaction, and increased the settlement amount adjustment to $2.50 per share. On February 9, 2024, a Zoom call took place between NorthView and Profusa’s management and representatives of Vellar to review the updated terms