Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 134

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 134
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 or controlled by Ascent will engage in or effect, directly or indirectly, any of
the foregoing transactions either for Ascent’s own principal account or for the principal account of any such entity managed or
controlled by Ascent.

Effect of Sales of our Common Stock under the Purchase Agreement on our Stockholders

The Commitment Warrant Shares
that we issued, and the Purchase Shares to be issued or sold by us, to Ascent under the Purchase Agreement that are being registered under
the Securities Act for resale by Ascent in this offering are expected to be freely tradable. The 42,211,548 Purchase Shares being registered
for resale in this offering may be issued and sold by us to Ascent from time to time at our discretion over a period of up to 36 months
(unless the Purchase Agreement is earlier terminated), beginning on the Effective Date. The resale by Ascent of a significant amount of
Purchase Shares registered for resale in this offering at any given time, or the perception that these sales may occur, could cause the
market price of our Common Stock to decline and to be highly volatile. Sales of our Common Stock, if any, to Ascent under the Purchase
Agreement will depend upon market conditions and other factors to be determined by us. We may ultimately decide to sell to Ascent all,
some or none of the shares of our Common Stock that may be available for us to sell to Ascent pursuant to the Purchase Agreement.

If and when we do elect to
sell shares of our Common Stock to Ascent pursuant to the Purchase Agreement, after Ascent has acquired such shares, Ascent may resell
all, some or none of such shares at any time or from time to time in its discretion and at different prices. As a result, investors who
purchase shares from Ascent in this offering at different times will likely pay different prices for those shares, and so may experience
different levels of dilution, and in some cases substantial dilution, and different outcomes in their investment results. Investors may
experience a decline in the value of the shares they purchase from Ascent in this offering as a result of future sales made by us to Ascent
at prices lower than the prices such investors paid for their shares in this offering. In addition, if we sell a substantial number of
shares of our Common Stock to Ascent under the Purchase Agreement, or if investors expect that we will do so, the actual sales of shares
or the mere existence of our arrangement with Ascent may