Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 264

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 264
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 transaction term sheet. The parties reviewed and discussed the instrument in detail and no further discussions ensued regarding potential financing or targets after the meeting. Neither Cohen & Company nor Vellar have relationships or affiliations with NorthView or its Sponsor. On October 2, 2022 Benchmark and Northview entered into a non -disclosureagreement and began discussing investment opportunities, options and the changing state of the SPAC market and how it could affect NorthView. Benchmark was formally engaged on June 15, 2023 to provide capital market advisory and merger advisory services. 131 On February 28, 2023, HCW contacted NorthView and Profusa and communicated that Vellar was interested in providing a structured debt instrument, which could bring $5 million at close and another $5 million once shares were registered. They would also move quickly and could get a term sheet in two weeks. Both NorthView and Profusa agreed to a due diligence meeting and HCW coordinated a Zoom meeting for March 2, 2023. On March 2, 2023 representatives of Vellar, Profusa management and NorthView management had a virtual meeting. Profusa provided a business update and then the group discussed financing alternatives. Discussions ensued and it was agreed to continue to have discussions on private placement financing. On March 21, 2023 HCW delivered Vellar’s non -binding$25 million Secured Convertible Note term sheet to be reviewed in a Zoom meeting scheduled for March 23, 2023. Compared to other financing instruments NorthView and Profusa were evaluating, the terms were not as favorable and the group discussed mechanisms to provide the company with cash sooner. The following terms were presented and discussed in the meeting: •$25 million secured Convertible Notes with 5 million detachable warrants and 12.5% OID to be funded over multiple tranches at 9% interest •1 sttranche $5 million of funding at closing of business combination agreement, less OID •2 ndtranche $5 million, subject to trading conditions •3 rdtranche $7.5 million, subject to trading conditions •4 thtranche $10 million, subject to trading conditions On March 29, 2023, HCW presented Vellar’s updated terms based on discussions in the prior meeting. The key term changes were decreasing the OID from 12.5% to 10%, increasing the second tranche from $5 million to $7.5 million and decreasing the proposed warrants. The closing of the Convert