Company: PFSA
Filing Date: 2025-08-29
Form Type: S-1
Source: 0001213900-25-082672
Chunk: 145

Company: Profusa, Inc.
Filing Date: 2025-08-29
Form: S-1
Chunk 145
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 the satisfaction of certain conditions including the full repayment of the First and Second Tranches, at least fifty percent (50%) repayment or conversion of the Third Tranche, effectiveness of a registration statement, and no Nasdaq listing deficiency. The Amendment supersedes and replaces all prior provisions relating to “Additional Closings” and “Additional Notes,” and all references to such terms in the PIPE Subscription Agreement and related documents are to be construed in accordance with the new tranche structure. Concurrently, on August25, 2025, the Company entered into Amendment No. 1 (the “ Note Amendment”) to the Initial Note. The Note Amendment modifies the terms of the Initial Note, specifically amending Section 4(b) to revise the conversion price provisions on any conversion date to be the lower of (i) the Conversion Price on such date and (ii) ninety -fivepercent (95%) of the lowest daily volume weighted average price (“ VWAP”) for the Company’s common stock during the ten consecutive trading days immediately preceding the applicable conversion date (the “ Alternate Conversion Price”), provided that in no event shall the conversion price be less than the Floor Price of twenty percent (20%) of the closing sale price of the common stock on the principal tradingmarketon the trading day immediately preceding the Note Amendment’s effective date, which was August22,2025. The foregoing description of SPA Amendment, Note Amendment, and the Form of Amended Senior Secured Convertible Promissory Note, is a summary only and does not purport to be complete and is qualified in its entirety by reference to the full text of the SPA Amendment, Note Amendment, and Form of Amended Senior Secured Convertible Promissory Note, copies of which are filed herewith as Exhibits 10.21, 10.22, and 10.23 and are incorporated herein by reference. 91 PIPE Lock-Up Agreement On July 11, 2025, the PIPE Investors entered into a lock -upagreement (the “PIPE Lock -UpAgreement”), pursuant to which they agreed to, subject to certain customary exceptions, not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of any shares of our Common Stock or securities convertible, exchangeable or exercisable into shares of our Common Stock beneficially owned, held or acquired by them. The period for such restrictions shall apply from the Closing Date until the termination of the PIPE Lock -UpAgreement in accordance with its terms. PIPE Registration Rights Agreement On July