Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 263

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 263
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 a new effective interest rate was established based on the $ 14.4million carrying value of the debt immediately prior to the November 2022 Convertible Notes Amendment and the future cash flows after such amendment, net of the issuance costs paid to or received from the Convertible Notes holders, which were capitalized and amortized based on the new effective interest rate. Fees paid to third parties in connection with the November 2022 Convertible Notes Amendment were expensed. The annual effective interest rate of Convertible Notes was estimated from 12.54% to 53.28% and 12.95% to 53.28% per year for the years ended December 31, 2024 and 2023, respectively. The interest expense for the years ended December 31, 2024 and 2023 was $ 2.1million and $ 2.3million, which includes the amortization of debt discount and issuance costs of $ 0.1million and $ 0.5million, respectively. As of December 31, 2024 and 2023, the outstanding balance of convertible notes includes related party convertible notes of $ 13.3million and $ 11.8million, respectively. Tasly Convertible Debt In June 2023, the Company entered into a short-term loan agreement with a related party under which it may borrow up to $ 1.6million, of which $ 1.0million was borrowed on June 26, 2023, $ 0.3million was borrowed on July 20, 2023, $ 0.3million was borrowed on August 15, 2023 and the final $ 0.02million was borrowed in February 2024 (the “Convertible debt”). F-17 PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 5 — Debt(cont.) The loans bear interest at a rate of 12% per annum and originally matured on December 31, 2023. The original maturity date was extended to March 31, 2024, subject to the parties’ decision to extend thereafter. The Company is currently in default, as this loan will be repaid in parallel with the closing of the SPAC transaction. Accordingly, the Company classified the entire amount outstanding under the Tasly Convertible Debt as current on the Consolidated Balance Sheet. Upon occurrence of certain events of default by the Company, including failure to repay