Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 1
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10.00 per share. 

Subject to certain future
revenue and stock-price based milestones, Profusa stockholders will have the right to receive an aggregate of up to an additional 3,875,000
shares of NorthView common stock (the “Earnout Shares”). One-quarter of the Earnout Shares will be issued if, between the
18-month anniversary and the two year anniversary of the Closing, the combined company’s common stock achieves a daily volume weighted
average market price of at least $12.50 per share for any 20 trading days within a 30 consecutive trading day period (“Milestone
Event I”). One-quarter of the Earnout Shares will be issued if, between the first and second anniversary of the Closing, the combined
company’s common stock achieves a daily volume weighted average market price of at least $14.50 per share for a similar number of
days (“Milestone Event II”). One-quarter of the Earnout Shares will be issued upon the consummation of the Tasly JV (as defined
in the amended Merger Agreement) during fiscal year 2024, and one-quarter of the Earnout Shares will be issued if the combined company
achieves at least $99,702,000 in revenue in fiscal year 2025 (or up to one-half of the Earnout Shares if both revenue milestones are achieved).

Additionally, if Milestone
Event I or Milestone Event II are achieved by the second anniversary of the Closing, NorthView’s sponsor, NorthView Sponsor I, LLC
and Profusa stockholders, will be issued additional shares up to the amount of any shares forgone as an inducement to obtaining Additional
Financings (as defined in the Merger Agreement). 

On
September 12, 2023, the parties to the Merger Agreement entered into Amendment No. 1 to the Merger Agreement (the “Amendment”)
pursuant to which the parties agreed to revise the revenue earnout milestones to reflect updated projections provided by Profusa. Specifically,
Amendment No. 1 revised the definition of “Milestone Event III” and “Milestone Event IV” such that one-quarter
of the Earnout Shares would be issued to Profusa stockholders if the combined company achieves Earnout Revenue of $11,864,000 for the
fiscal year ended December 31, 2024, and one-quarter of the Earnout Shares would be issued to Profusa stockholders if the combined company
ach