Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 276

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 276
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 call took place between NorthView and Profusa’s management and representatives of Vellar to review the updated terms presented on February 7, 2024. On February 12, 2024, NorthView and Profusa received an updated draft of the term sheet. Questions and suggestions around term sheet provisions were subsequently provided by NorthView and Profusa’s management in anticipation of a call that took place on February 13, 2024 between NorthView and Profusa’s management and a representative of Vellar. On February 14, 2024, in a Zoom call, Vellar indicated that it wanted to add to the term sheet the condition that the APAC Joint Venture would need to close (bringing in an additional $4 million of capital) prior to closing. Management agreed to this since it had already contemplated such and it was already anticipated. On February 14, 2024, the draft of the binding term sheet was provided to NorthView and Profusa’s legal counsel who offered final suggestions and completed their review on February 15, 2024. Additionally, the final draft binding term sheet was provided to the Board and Audit Committee of NorthView who unanimously approved signing such term sheet. The Original Term Sheet was subsequently amended and restated on May 9, 2024, to clarify certain provisions of the Original Term Sheet. On February 16, 2024, HCW contacted Arena to terminate further negotiation regarding potential financings through Arena. Vellar Financing Background On February 16, 2024, NorthView and Profusa entered into a binding term sheet (as amended and restated on May 9, 2024, the “Term Sheet”) with Vellar Opportunities Fund Master, Ltd. (“Vellar”), with respect to two separate transactions — a private placement investment and a cash -settledequity derivative transaction. The amended term sheet dated May 9, 2024 provided Vellar the option to terminate the transaction for any reason, at any time, in its absolute discretion and will be entitled to receive all of Vellar’s reasonable costs and expenses relating to the Transaction (not to exceed $75,000). In the event Vellar elected to terminate the transaction, Vellar would have no obligation to NorthView, Profusa or New Profusa. For avoidance of doubt, such payment of the breakup fee shall be due at close of Business Combination. Vellar notified NorthView and Profusa that they would be unable to provide cash at closing of the Merger and would consider cash investments