Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 40

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 in November 2022). Additionally, the Company repaid $0.1 million of principal
on Senior Notes with investors during the respective period.

July - September 2024 Senior Notes — During the
months July through September 2024, the Company issued additional Senior Notes to investors with the principal amount of $0.7 million
on substantially the same terms as the Senior Notes issued in 2022 (as amended in November 2022). Additionally, during the months of
July through September 2024, the Company issued a Senior Convertible Note with the principal amount of $0.25 million. This note was issued
at the same 12% interest terms as all of their other Senior Notes and converted into shares of Company Common Stock upon the Closing.

January-March 2025 Senior Notes — During the months
January through March 2025, the Company issued additional Senior Secured Convertible Notes to investors with the principal amount of $0.8
million on substantially the same terms as the Senior Notes issued in 2022 (as amended in November 2022). These notes were issued at the
same 12% interest terms as all of their other Senior Secured Convertible Notes, and will convert into shares of Company Common Stock at
$0.50 per share.

April - June 2025 Senior Notes — During the months
April through June 2025, the Company issued additional Senior Secured Convertible Notes to investors with the principal amount of $0.4
million issued on substantially the same terms as the Senior Notes issued in 2022 (as amended in November 2022). These notes were issued
at the same 12% interest terms as all of their other Senior Secured Convertible Notes, and will convert into shares of Company Common
Stock at $0.50 per share.

The annual effective interest rate of Senior Notes was estimated from
0% to 12.15% and 0% to 12.55% per year for the nine months ended September 30, 2025 and 2024, respectively. The interest expense for the
three months ended September 30, 2025 and 2024 was $0.1 million and $0.5 million, respectively. The interest expense for the nine months
ended September 30, 2025 and 2024 was $1.3 million and $1.5 million, respectively.

Upon Closing, the following convertible notes were converted into Company
Common Stock based