Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 287

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 287
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 and accounted for separately as a derivative instrument
initially and subsequently measured at fair value with the change in the gain (loss) on change in the fair value of derivative liabilities
in the statements of operations.

December 2021 Senior Notes — In December 2021 the Company received $1.3 million in total gross proceeds from the issuance of
senior unsecured promissory notes (the “December 2021 Senior Notes”, together with August 2021 Senior Notes, the
“2021 Senior Notes”). Simple interest on the unpaid principal balance of the December 2021 Senior Notes accrued from
the issuance date at a rate of 12% per year and is payable at maturity. The December 2021 Senior Notes mature on August 25,
2022.

During the year ended December 31,
2022 the Company issued additional Senior Notes to the existing investors for the aggregate principal amount of $5.5 million (the
“2022 Senior Notes”) on substantially the same terms as the other Senior Notes issued in 2021 (as amended in December 2021).

<div align='center'>F-18

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 5 — Debt (cont.)

Senior Notes September 2022 Amendment

In September 2022,
the 2021 Senior Notes and 2022 Senior Notes (together “Senior Notes”) were amended as follows: a) the maturity dates for
all Senior Notes were extended to December 31, 2022, b) the conversion price discount in the event of a Qualified Financing was
increased to 60%, c) the February 25, 2022 deadline for the occurrence of a Qualified Financing for conversion of the Senior
Notes into Series C convertible preferred stock prior to a Qualified Financing was extended to December 31, 2022 and the
respective conversion price discount of 60% was introduced for conversion prior to a Qualified Financing; d) the conversion price
discount of 60% in the event of change of control was introduced; e) conversion option prior to entering into a definitive agreement
with a SPAC (the “Definitive Qualified Agreement”) was introduced. Under this option, in the event that the Company
executes a Definitive Qualified Agreement, then the Senior Note holders will have the option (but not the obligation) to
convert the entire outstanding principal balance and all accrued but unpaid interest