Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 275

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 275
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 and sale of any class or security of the Company in which (a) the gross offering price per share reflects a pre-offering valuation of the Company of not less than $ 200million, calculated on a fully-diluted and as-converted basis before giving effect to the issuance of the securities to be sold in such public offering, and (b) the cash proceeds to the Company (net of underwriting discounts and commissions) are at least $ 50million (a “Qualified IPO”); or (ii) the Company’s receipt of a written request for such conversion from at least a majority of holders of the then outstanding shares of convertible preferred stock, voting as a single class on an as-if-converted basis. Redemption and Balance Sheet Classification Convertible preferred stock is recorded in mezzanine equity because while it is not mandatorily redeemable, it will become redeemable at the option of the stockholders upon the occurrence of certain deemed liquidation events that are considered not solely within the Company’s control.

Note 8 — Common Stock

As of December 31, 2024
and December 31, 2023, the Company’s certificate of incorporation authorized issuance of shares of common stock.
Each share of common stock is entitled to vote. The holders of common stock are also entitled to receive dividends whenever funds
are legally available and when declared by the Board of Directors, subject to prior rights of the preferred stockholders. As of December 31,
2024, no dividends have been declared to date.

The Company had reserved shares
of common stock, on an as-converted basis, for future issuance as follows:

|                                            |     |     | December 31, 
         2024 |     |     | December 31, 
         2023 |
|:-------------------------------------------|:----|:----|-------------:|:----|:----|-------------:|
| Conversion of Series A preferred stock     |     |     |    4,350,314 |     |     |    4,350,314 |
| Conversion of Series B preferred stock     |     |     |    5,293,175 |     |     |    5,293,175 |
| Conversion of Series C/C-1 preferred stock |     |     |    8,220,445 |     |     |    8,220,445 |
| Outstanding options under 2010 Plan        |     |     |    2,972,055 |     |     |