Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 84

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 84
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 this type, including, among other things, any breach of the representations or warranties made by New Profusa or its subsidiaries. The PIPE Convertible Notes also provide for a 10% late fee in case of late payments and mandatory prepayments upon Subsequent Offerings (as defined in the PIPE Convertible 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 PIPE Convertible Notes may not be converted by the 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 PIPE Convertible Notes. As the purchase of the Initial Note will be the only portion of the PIPE that is funded as of the Closing Date of the Business Combination, and the likelihood of the remaining PIPE Convertible Notes being issued cannot be determined, only the Initial Note and related purchase price are reflected in the unaudited pro forma financial. See section entitled “ Unaudited Pro Forma Condensed Combined Balance Sheet As Of December 31, 2024” for additional information. Form of Lock-Up Agreement Pursuant to the PIPE Subscription Agreement, on the Initial Closing Date certain holders of New Profusa Common Stock, including each officer and director of New Profusa, will enter into a lock -upagreement (the “PIPE Lock -UpAgreement”), pursuant to which they will agree to, subject to certain customary exceptions, not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of any shares of New Profusa Common Stock or securities convertible, exchangeable or exercisable into, shares of New Profusa Common Stock beneficially owned, held or acquired by them. The period for such restrictions shall apply from the Initial Closing Date until the termination of the Lock -UpAgreement in accordance with its terms. Additional Ancillary Agreements Pursuant to the PIPE Subscription Agreement and prior to or concurrent with the Initial Closing Date, New Profusa and the investors will enter into a Registration Rights Agreement, a Security Agreement, and a Guaranty, each in a form to be agreed upon by the Company and the investors. Pursuant to the PIPE Subscription Agreement, New Profusa and its subsidiaries will be guarantors of New Profusa’s Obligations under the PIPE Convertible Notes pursuant to the Guar