Company: PFSA
Filing Date: 2025-10-08
Form Type: 8-K
Source: 0001213900-25-097141
Chunk: 1

Company: Profusa, Inc.
Filing Date: 2025-10-08
Form: 8-K
Item: Item 1.01
Chunk 1
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 the Company’s financing arrangement with Ascent pursuant to the Purchase Agreement. The Control was executed on October
1, 2025 with an effective date of September 29, 2025.

Pursuant
to the Control Agreement, the Custodian will hold and manage digital asset collateral in a designated custodial account for the benefit
of Ascent. The Control Agreement sets forth the procedures for the Custodian to follow with respect to entitlement orders and instructions
regarding the collateral, including the requirement that, prior to receipt of a Notice of Exclusive Control from Ascent, the Custodian
may only act on joint instructions from both the Company and Ascent. Upon and during the continuance of an event of default under the
applicable financing agreements, and following the Custodian’s receipt of a Notice of Exclusive Control from Ascent, the Custodian
is required to act solely on instructions from Ascent without further consent from the Company.

The
Control Agreement includes customary provisions regarding the responsibilities and protections of the Custodian, including limitations
on liability, indemnification by both the Company and Ascent, and the absence of fiduciary duties. The Custodian is authorized to use
agents and affiliates, including BitGo Prime LLC, to assist in providing services, and will make available to the Company and Ascent
near real-time, read-only information regarding the custodial account through an application programming interface (API).

The
Control Agreement may be terminated upon written notice under certain circumstances, including the release of Ascent’s security
interest or by election of any party with appropriate notice and consent.

The
Company is responsible for all fees and expenses associated with the custodial services, including a collateral management fee of 3 basis
points of the U. S. monthly digital assets held in the custodial account, payable to the Delegate.

The
foregoing description of the Control Agreement does not purport to be complete and is qualified in its entirety by reference to the full
text of the Control Agreement, which is filed as Exhibit 10.1 and is incorporated herein by reference.

Item
5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year