Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 164

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 164
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) of approximately $9.0 million
in proceeds from the PIPE Investment. This $9.0 million is offset by various deferred offering costs and $2.0 million closing
fees related to the underwriters marketing fee for the NorthView IPO, which became payable upon a successful consummation of the Business
Combination. See “Unaudited Pro Forma Condensed Combined Financial Information.”

In June 2023, the Company
entered into a short-term loan agreement with a related party under which it may borrow up to $1.6 million, of which $1.0 million
was borrowed on June 26, 2023, $0.3 million was borrowed on July 20, 2023, $0.3 million was borrowed on August 15,
2023 (the “Tasly Convertible debt”). An additional amount of less than $0.02 million was drawn on February 6, 2024.
The loans bear interest at a rate of 12% per annum and originally matured on December 31, 2023. The original maturity date was extended
to March 31, 2024, subject to the parties’ decision to extend thereafter. The Company is currently in default, as this loan
will be repaid subsequent to the SPAC transaction. The Company is currently incurring a default interest rate of 24% per annum, and has
classified the entire amount outstanding under the Tasly Convertible Debt as current under the convertible debt payable line item on the
Condensed Consolidated Balance Sheet.

As a result of the Merger,
the Company has become the successor to an SEC-registered and NASDAQ- listed company, which will require us to hire additional personnel
and implement procedures and processes to address public company regulatory requirements and customary practices. We expect to incur additional
annual expenses as a public company for, among other things, directors’ and officers’ liability insurance, director fees,
and additional internal and external accounting, legal and administrative resources.

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Recent Developments

As of the date of this prospectus,
the Company has purchased $1.0 million of Bitcoin as part of the Company’s ongoing treasury strategy, representing 8.53 Bitcoins.

Inflation, Monetary Response, and Economic Impacts

The world economy is experiencing
stubbornly high inflation, a challenge not faced for decades. Following the global financial crisis, with inflationary pressures muted,
interest rates were extremely low for years and