Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 165

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 other Senior Secured Convertible Notes, and will convert into shares of Company Common
Stock at $0.50 per share.

The annual effective interest rate of Senior Notes was estimated from
0% to 12.15% and 0% to 12.55% per year for the nine months ended September 30, 2025 and 2024, respectively. The interest expense for the
three months ended September 30, 2025 and 2024 was $0.1 million and $0.5 million, respectively. The interest expense for the nine months
ended September 30, 2025 and 2024 was $1.3 million and $1.5 million, respectively.

Upon Closing, the following convertible notes were converted into Company
Common Stock based on the principal and accrued interest as of July 11, 2025. Senior Convertible Notes with an outstanding balance of
$20.6 million in principal and accrued interest converted into 5,143,898 shares of Company Common Stock at $4.00/share, Senior Convertible
Bridge Notes of $3.1 million in principal and accrued interest were repaid in cash in the amount of $0.2 million with the remaining $2.9
million converted into 1,294,590 shares of Company Common Stock at $2.22/share, Senior Secured Convertible Notes of $2.8 million in principal
and accrued interest converted into 5,542,261 shares of Company Common Stock at $0.50/share. Of the 5,542,261 shares of Company Common
Stock issued to Senior Secured Note holders, 710,220 shares were contributed by the Sponsor. As such, most of these notes were converted
into Company Common Stock upon the Closing.  As of September 30, 2025, $0.3 million remained outstanding.

23

Of the $0.3 million of Senior Notes remaining, $0 is outstanding with
related parties and $0.3 million is outstanding with unrelated parties. Additionally, of the $25.3 million of Senior Notes outstanding
on December 31, 2024, $9.5 million was outstanding with related parties and $15.8 million was outstanding with unrelated parties.

Loans Payable - Related Party at fair value

On February 11, 2025, NorthView executed a Securities Purchase Agreement
(the “PIPE Subscription Agreement”) with Ascent Partners Fund LLC (“Ascent”, and together with