Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 430

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 430
---
5,
in a private transaction, the Company entered into a securities purchase agreement (the “SPA”) with an institutional investor
(the “Investor”). Pursuant to the SPA, the Investor is expected, subject to the conditions relating to such purchase set forth
in the SPA, to purchase from the Company’s senior secured convertible promissory notes in an aggregate principal amount of up to
$22,222,222 (the “Convertible Notes”) for a purchase price of up to $20,000,000, after a 10% original issue discount (“OID”).
As a result of the Business Combination, pursuant to the SPA, the Company issued a Convertible Note in the principal amount of $10,000,000
(the “Initial Note”) for a purchase price of $9,000,000, reflecting a 10% OID. The Initial Note matures on the date that
is 18-months from the closing of the Business Combination and is convertible at any time at the Investor’s option at a conversion
price equal to the lower of $10 or 95% of the lowest daily volume-weighted average price per share of the post-combination company common
stock in the 10 trading days prior to the original issue date of the Initial Note and shall be adjusted, without limitation, based
on down-round and most-favored nation (MFN) price and terms protections (the “Conversion Price”).

The SPA contemplates that additional
Convertible Notes will be purchased in multiple tranches:

| (i) | Prior to the one-year anniversary of the Initial Closing Date,                                                                         
 subject to the conditions set forth in the SPA, the Company may request that the Investor purchase additional Convertible Notes having 
 an aggregate principal amount of up to $12,222,222 at a purchase price of $11,000,000 (reflecting a 10% OID), as follows:              |

| (a) | Provided a registration statement has been filed for the                                                                                 
 shares underlying the Initial Note, shares of combined company common stock, par value $0.0001 (“New Profusa Common Stock”)              
 have traded a volume of at least 15,000,000 shares in the aggregate, and no default or event of default has occurred, the Company may    
 call and thereby require the Investor to purchase Convertible Notes in the aggregate principal amount of $2,222,222 for a purchase price 
 of $2,000,000 (reflecting a 10% OID) (“Second Purchase”