Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 19

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 19
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The sale and issuance of our Common Stock to Ascent will cause dilution to our existing stockholders, and the sale of Purchase Shares acquired by Ascent, or the perception that such sales may occur, could cause the price of our Common Stock to fall.

The purchase price for the shares that we may sell to Ascent under
the Purchase Agreement will fluctuate based on the price of our Common Stock. Depending on a number of factors, including market liquidity,
sales of such shares may cause the trading price of our Common Stock to fall.

Ascent may resell all, some, or none of shares that we sell to Ascent
subsequent to the date of this prospectus at its discretion, subject to the terms of the Purchase Agreement. Therefore, sales to Ascent
by us could result in dilution to the interests of other holders of our Common Stock. Additionally, the sale of a substantial number of
shares of our Common Stock to Ascent, or the anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities
in the future at a desirable time and price.

Investors who buy Purchase Shares from Ascent at different times will likely pay different prices.

Pursuant to the Purchase Agreement,
we will have discretion, subject to market demand, to vary the timing, price and number of shares of Common Stock sold to Ascent. If and
when we elect to sell Common Stock to Ascent pursuant to the Purchase Agreement, after Ascent has acquired Purchase Shares, Ascent may
resell all, some or none of such shares at any time or from time to time in its sole discretion and at different prices. As a result,
investors who purchase shares from Ascent in this offering at different times will likely pay different prices for those shares, and so
may experience different levels of dilution and in some cases substantial dilution and different outcomes in their investment results.
Investors may experience a decline in the value of the shares they purchase from Ascent in this offering as a result of future sales made
by us to Ascent at prices lower than the prices such investors paid for their shares in this offering. In addition, if we sell a substantial
number of shares to Ascent under the Purchase Agreement, or if investors expect that we will do so, the actual sales of shares or the
mere existence of our arrangement with Ascent may make it more difficult for us to sell equity or equity-related securities in the
future at