Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 209

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 209
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 $10.00 per share price reflected each public share having a right to redeem such share for a pro rata portion of the proceeds held in the Trust Account, which is expected to equal approximately $12.21 per share prior to the Closing. Following the Closing, the outstanding shares of New Profusa Common Stock will no longer have any such redemption right and will be solely dependent upon the fundamental value of New Profusa, which, like the securities of other companies formed through business combination transactions with special purpose acquisition companies in recent years, may be significantly less than $10.00 per share. Following the consummation of the Business Combination, the value of the New Profusa Common Stock will be affected by many factors, including but not limited to (i) the dilution caused by existence, exercise and/or conversion of the NorthView Warrants, (ii) significant legal, financial advisor, accounting, banking and consulting fees, fees relating to regulatory filings and notices, SEC filing fees, printing and mailing fees and other costs associated with the Business Combination, and (iii) the dilution caused by any equity issued in connection with the Financings. In addition, in connection with the Profusa bridge financing and NorthView’s working capital financings, investors will be issued shares of which reduce their costs basis to be equivalent to $2.22 per share of New Profusa Common Stock, which is substantially below the redemption price. This incentive structure could also negatively impact the value of the New Profusa Common Stock. 95 The proposed PIPE Convertible Notes and conversion of the Convertible Bridge Loan could result in the issuance of shares of New Profusa Common Stock at an effective price substantially below the redemption price, which could have a negative impact on the value of the New Profusa Common Stock after the closing of the Business Combination. Under the PIPE Subscription Agreement, the conversion of the PIPE Convertible Notes could allow for the PIPE Investors to convert such notes into shares of New Profusa Common Stock at a price substantially below the redemption price which could be received by NorthView public stockholders. Similarly, the holders of Profusa’s Convertible Bridge Loans are expected to convert into shares of Profusa capital stock, and subsequently convert into shares of New Profusa common Stock at an effective price of $2.22 per share. Each of these effective prices is or could be substantially below the redemption price of the NorthView Common Stock. Accordingly, the issuance of shares in connection with the conversion of the PIPE Convertible Notes and conversion of the Convertible Bridge Loan