Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 265

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 265
---
 unresolvable problem in early February 2024. Through their relationship with HCW, Profusa and NorthView received notice on January 26, 2024 that Vellar would like to reengage in financing discussions, if it was not too late. Accordingly, HCW set up a Zoom meeting for January 29, 2024, with Vellar, NorthView and Profusa. HCW contacted over 100 potential investors, including Vellar, as part of their outreach for the private placement transaction. In the January 29, 2024 meeting, Vellar presented a draft non -bindingterm sheet whereby Vellar would purchase 320,000 private placement shares at a purchase price of $10.00 per share, in exchange for NorthView and Profusa causing an additional 2,400,000 Founder Shares to be transferred to Vellar. The Company informed Vellar that it would be seeking an up to $20 million private placement fundraise at $2.22 per share, and Vellar decided to consider the private placement offering and would evaluate NorthView and Profusa’s terms and respond. 128 After contemplating NorthView and Profusa’s term sheet, NorthView and Profusa received an email from HCW on February 5, 2024, describing an offering from Vellar and another investor to be determined by Vellar, whereby Vellar would lead a $4 million private placement purchase at $2.00 per share versus NorthView and Profusa’s $2.22 price per share, along with a 4,000,000share Forward Purchase Agreement (FPA), with a condition precedent that no other structured agreements, such as a Senior Convertible Note or Equity Line of Credit would be in place. It was also noted by management of Profusa that two high potential private placement investors were currently awaiting lead investor terms. On February 6, 2024, Vellar provided a revised non -bindingterm sheet including a response to questions/issues previously raised by NorthView and Profusa, which increased the private placement from $4 million to $5 million and increased the FPA from 4.0 million shares to 5.0 million shares, and also provided detailed terms of the FPA, including a tenor of 6 to 36 months, a reference price of $10.00 per share and a settlement amount adjustment of $2.00 per share. On February 7, 2024, a Zoom call took place between management of NorthView, Profusa and V