Company: PFSA
Filing Date: 2025-08-21
Form Type: S-1/A
Source: 0001213900-25-079401
Chunk: 266

Company: Profusa, Inc.
Filing Date: 2025-08-21
Form: S-1/A
Chunk 266
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 5 — Debt (cont.) Balance Sheet. Upon occurrence of certain events of default by the Company, including failure to repay in full the amounts owed at maturity, the lender will have an option to convert the entire outstanding balance and accrued but unpaid interest under the Convertible debt into senior unsecured promissory notes on substantially the same terms as the outstanding Senior Notes as of December 31, 2024. In the event the Company fails to complete the Merger, the lender will have an option to convert the entire outstanding balance and accrued but unpaid interest under the Convertible debt into either (i) senior unsecured promissory notes on substantially the same terms as the outstanding Senior Notes as of December 31, 2024 or (ii) the Company’s common stock at a conversion price of $ 2.33per share. The Company elected to apply the fair value option to account for the Tasly Convertible debt. Accordingly, no features of the Convertible debt are bifurcated and separately accounted for. The fair value of the Convertible debt was $ 2.2million as of December31, 2024, compared to $ 1.71million as of December 31, 2023. Accrued stated interest on the Convertible debt was $ 0.2million for the year ended December31, 2024 compared to less than $ 0.1million for the year ended December 31, 2023. The total loss on fair value remeasurement is $ 0.33million, of which, $ 0.31million in loss on fair value remeasurement is from the year ended December31, 2024, compared to less than $ 0.1million in loss on fair value remeasurement from the year ended December31, 2023. Senior Notes 2021 August 2021 Senior Notes— In August 2021 the Company received $ 4.0million in total gross proceeds from the issuance of senior unsecured promissory notes (the “August 2021 Senior Notes”). Simple interest on the unpaid principal balance of the August 2021 Senior Notes accrued from the issuance date at a rate of 12% per year and is payable at maturity. The August 2021 Senior Notes were to mature on the earlier of (a) issuance of the next round of preferred stock of (b) August 25, 2022. On December 6, 2021, the August 2021 Senior