Company: PFSA
Filing Date: 2025-09-17
Form Type: S-1/A
Source: 0001213900-25-088333
Chunk: 284

Company: Profusa, Inc.
Filing Date: 2025-09-17
Form: S-1/A
Chunk 284
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Convertible debt”).

The loans bear interest at a rate of % per annum, % per annum default interest rate, 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. Upon occurrence of certain events of default by the Company, including failure to repay in full the amounts owed at maturity, the lender will have an option to convert the entire outstanding balance and accrued but unpaid interest under the Convertible debt into senior unsecured promissory notes on substantially the same terms as the outstanding Senior Notes as of June 30, 2025. In the event the Company fails to complete the formation of the APAC Joint Venture or fail to repay the amounts under the Tasly Convertible Debt when they become due, the lender will have an option to convert the entire outstanding balance and accrued but unpaid interest under the Convertible debt into either (i) senior unsecured promissory notes on substantially the same terms as the outstanding Senior Notes as of June 30, 2025, or (ii) the Company’s common stock at a conversion price of $ per share.

The Company elected to apply the fair value option to account for the Tasly Convertible debt. Accordingly, no features of the Convertible debt are bifurcated and separately accounted for. The fair value of the Convertible debt was $ million as of June 30, 2025. Accrued stated interest on the Tasly Convertible debt was $ million and $ million for the three and six months ended June 30, 2025, respectively. Accrued stated interest on the Tasly

F-42

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED) Note 5 — Debt (cont.)

Convertible debt was $ million and $ million for the three and six months ended June 30, 2024, respectively. Accrued interest since note origination is $ million in total. The total loss on fair value remeasurement from origination through June 30, 2025 was $ million, and the loss on fair value remeasurement was recognized of $ million through June 30, 2025.

Senior Notes

January – March 2024 Senior Notes — During the months January through March 2024, the Company issued additional Senior Notes to investors with the principal amount of $