Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 140

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 140
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 amount of up to $22,222,222 (the “PIPE Convertible Notes”) for              
 a purchase price of up to $20,000,000, after 10% OID.                                                                                  |

At the Closing and pursuant to the PIPE
Subscription Agreement, New Profusa issued a PIPE Convertible Note in the principal amount of $10,000,000 (the “Initial Note”),
reflecting a 10% original issue discount to the face amount (“OID”) thereof. The Initial Note matures on January 11, 2027,
which is 18-months from Closing on July 11, 2025 (the “Maturity Date”) and is convertible at any time at the holder’s
option at the lower of $10 or 95% of the lowest daily volume-weighted average price per share (“VWAP”) of New Profusa Common
Stock in the 10 trading days prior to the original issue date for each PIPE Convertible and shall be adjusted, without limitation,
based on down-round and most-favored nation (MFN) price and terms protections (the “Conversion Price”).

Interest shall accrue on the aggregate
unconverted and then outstanding principal amount of the Initial Note at a rate of 10% per annum and increase upon an event of default
to 24% per annum. Payments made in cash under the Initial Note shall be subject to a 5% fee, which shall be in addition to any amounts
owed thereunder. The Initial Note provides for certain events of default that are typical for a transaction of this type, including, among
other things, any breach of the representations or warranties made by New Profusa or its subsidiaries. The Initial Note also provides
for a 10% late fee in case of late payments and mandatory prepayments upon Subsequent Offerings (as defined in the Initial Note) and,
in the absence of an event of default, may be prepaid upon 10 business day’s prior notice, subject to certain conversion rights
of the PIPE Investors.

The Initial Note may not be converted
by the PIPE Investors into shares of New Profusa Common Stock if such conversion would result in the investors or their affiliates owning
in excess of 4.99% of the number of shares of New Profusa Common Stock outstanding immediately after giving effect to the issuance of
all shares issuable upon conversion of the Initial Note.

The outstanding principal balance of
the Profusa Senior Convertible Promissory Notes and all accrued but unpaid interest converted into Profusa