Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 217

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 217
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 case, on a fully diluted net exercise basis. These indicative levels of ownership interest would amount to approximately 47.1%, 6.1%, 13.6%, 14.1% and 19.1%, respectively, assuming the maximum redemption scenario. In addition, such ownership and voting interest could be further reduced as a result of issuance of additional New Profusa Common Stock. For example, under the No Redemption Scenario, NorthView Public Stockholders’ ownership and voting interest in the combined company will be reduced to 6.9% upon the issuance of all the Earnout Shares and 5.1% upon the issuance of New Profusa Common Stock underlying all the issued and outstanding NorthView Warrants; and under the Maximum Redemption Scenario, NorthView Public Stockholders’ ownership and voting interest in the combined company will be reduced to 6.2% upon the issuance of the Earnout Shares and 4.5% upon the issuance of New Profusa Common Stock underlying all the issued and outstanding NorthView Warrants. Consequently, NorthView’s stockholders, as a group, will have reduced ownership and voting power in the combined company compared to their ownership and voting power in NorthView. NorthView Public Stockholders who redeem their public shares may continue to hold the Public Warrants, which will result in additional dilution to non-redeeming NorthView Public Stockholders upon exercise. Assuming that all the redeeming NorthView Public Stockholders continue to hold their NorthView Public Warrants, an aggregate of 9,487,500 Profusa Warrants would be retained by these shareholders. Assuming that 52,159 NorthView public shares are redeemed for an aggregate payment of approximately $0.6 million from the Trust Account subsequent to the March 2025 redemptions, which is the maximum amount of redemptions that could occur, the NorthView Warrants held by persons whose shares were redeemed (assuming the holder of such share also held one -halfof a NorthView Warrant) would have had an aggregate market value of approximately $3,135 based on the closing NorthView Warrant price of $0.06 as of May6, 2025. The actual market price of the NorthView Warrants may be higher or lower on the date that holders seek to sell such NorthView Warrants. As a result, the redeeming NorthView Public Stockholders could recoup their entire investment and continue to hold Profusa Warrants, while non -redeemingNorthView Public Stockholders could suffer additional