Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 236

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 236
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usa to form the JV, initially to be
wholly owned by Profusa. Profusa would grant the JV an irrevocable, exclusive, perpetual, sub-licensable and assignable license to
its intellectual property to use, implement, develop, improve, manufacture, register, distribute, sell and promote the Licensed Products
in the Asia Pacific Region. The term of the license would be perpetual. As up-front, lump-sum consideration for the license, the
JV would issue to Profusa ordinary shares of the JV with value equal to $10 million, contingent upon an independent third-party valuation
firm determining that the value of the license is no less than $10 million and a sub-licensing agreement to be entered into
between certain of the Investors and the JV. Subject to certain closing conditions, Tasly Holding Group Co. Ltd. or its affiliates
(collectively, “Tasly”) would then purchase 60% of the share capital of the JV from Profusa for $6 million, resulting
in the JV being 60% owned by Tasly and 40% owned by Profusa. The JV would also pay Profusa 5% royalties on sales, and 30% royalties on
income from royalties, sub-licensing fees or collaboration payments received by the JV, with the definitive payment terms of such
royalties and fees to be agreed in a written definitive agreement for the license. Between 18 and 36 months following the transfer
of equity to Tasly, the Investors would also have an option to invest in preference shares of the JV at a pre-money valuation of
$10 million, with allocations of investment amounts and ownership percentages in the JV among the Investors being 24.95% for each
of Carbis Bay Limited, BC hSensor Limited and 50.1% for Tasly. The Term
Sheet also contemplates that the definitive transaction documents would include provisions for the governance of the JV and the rights
of Profusa and the Investors in respect thereof. If the definitive agreements required to consummate the APAC Joint Venture have not been
executed or the JV has not been formed as of May 10, 2024, the Term Sheet will terminate automatically, unless otherwise extended
by mutual agreement among the Company and the Investors. Further, if the definitive agreements required to consummate the APAC Joint Venture
are under negotiation as of May 10, 2024, the Term Sheet shall not expire and shall remain in effect. As of