Company: PFSA
Filing Date: 2025-08-11
Form Type: PRE 14A
Source: 0001213900-25-073801
Chunk: 10

Company: Profusa, Inc.
Filing Date: 2025-08-11
Form: PRE 14A
Chunk 10
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 the Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the Company’s common stock, and the Company’s determination as to the appropriate sources of funding for its operations. The Company expects that any proceeds received from such sales will be used primarily for the purchase of Bitcoin (subject to a minimum cash balance requirement), and, if necessary, to maintain a minimum cash balance, as further described in the Purchase Agreement. 6 In addition, under applicable rules of The Nasdaq Stock Market LLC, the Company may not issue or sell to Ascent under the Purchase Agreement more than 19.9% of the shares of common stock outstanding immediately prior to the execution of the Purchase Agreement (the “ Exchange Cap”), unless (i) the Company obtains stockholder approval to issue shares in excess of the Exchange Cap or (ii) the average price per share paid by Ascent for all of the shares of Common Stock that the Company directs Ascent to purchase pursuant to the Purchase Agreement, if any, equals or exceeds $0.68 per share (representing the lower of (a) the official closing price of the Company’s Common Stock on Nasdaq immediately preceding the execution of the Purchase Agreement and (b) the average official closing price of the Company’s Common Stock on Nasdaq for the five consecutive trading days immediately preceding the execution of the Purchase Agreement, adjusted as required by Nasdaq to take into account the issuance of the Commitment Warrants issued to Ascent for non -cashconsideration), so that the Exchange Cap limitation will not apply to issuances and sales of Common Stock pursuant to the Purchase Agreement. In any event, the Purchase Agreement specifically provides that the Company may not issue or sell any shares of common stock under the Purchase Agreement if such issuance or sale would breach any Nasdaq rules. The Purchase Agreement also contains customary representations, warranties, and covenants of both the Company and Ascent, as well as indemnification provisions and other terms and conditions customary for transactions of this type. The Company is required to file a registration statement covering the resale by Ascent of the shares of common stock issued under the Purchase Agreement and to maintain the effectiveness of such registration statement as required by the Purchase Agreement. Issued Ascent Commitment Warrants As consideration for Ascent’s commitment to purchase shares of Common Stock at our direction and upon the terms and subject to the conditions set forth in the Purchase Agreement, upon our execution of the term sheet relating to