Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 556

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 556
---
 liquidation. The Sponsor may elect to convert all or any portion of the unpaid principal balance of this Note into warrants, at a price of $ 1.00per warrant. As of December 31, 2023, the Company had principal outstanding of $ 1,121,815and is presenting the Note at fair value on its balance sheet at December 31, 2023 in the amount of $ 944,118. On January 10, 2024, the Company’s Board of Directors approved, and the Company amended, its Convertible Working Capital Promissory Note (the “Note”) with the sponsor to increase the principal amount of the Note that could be drawn on to $ 1.5million. The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $ 2.22per share at the election of the sponsor. Promissory Note — Related Party On April 19, 2021, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of $ 150,000to be used for a portion of the expenses of the IPO. This loan is non -interestbearing, unsecured and was to be due at the earlier of December 31, 2021 or the closing of the IPO. On November 5, 2021, the Company amended the promissory note to increase the principal amount up to $ 200,000with a due date at the earlier of April 30, 2022 or the closing of the IPO. Through the IPO, the Company borrowed $ 200,000under the promissory note and an additional $ 4,841was advanced from the Sponsor. These amounts were repaid in full upon the closing of the IPO out of the offering proceeds that had been allocated to the payment of offering expenses (other than underwriting commissions). The Company paid $ 25,000in excess which was owed back to the Company upon the closing of the IPO and was returned by the Sponsor on June 15, 2022. Related Party Loans In order to finance transaction costs in connection with an intended initial Business Combination, the initial stockholders or an affiliate of the initial stockholders or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company