Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 278

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 278
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 $                                  | — |     | $       | — |     | $       | 1,714 |     | $     | 1,714 |
| Total assets measured at fair value |     | $                                  | — |     | $       | — |     | $       | 1,714 |     | $     | 1,714 |

<div align='center'>F-13

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 3 — Fair Value Measurement
(cont.)

The following table sets forth
a summary of the changes in the fair value of the Company’s Level 3 financial instruments for the years ended December 31,
2024 and 2023 (in thousands):

| Fair value as of January 1, 2023                                                                             |     | Tasly        
 convertible  
 debt at fair 
 value        |     — |
|:-------------------------------------------------------------------------------------------------------------|:----|:-------------|------:|
| Issuance of Convertible Notes                                                                                |     |              | 1,600 |
| Accrued stated interest                                                                                      |     |              |    92 |
| Change in fair value included in other income and loss on change in the fair value of Tasly convertible debt |     |              |    22 |
| Fair value as of December 31, 2023                                                                           |     | $            | 1,714 |
| Fair value as of January 1, 2024                                                                             |     | $            | 1,714 |
| Issuance of Convertible Notes                                                                                |     |              |    16 |
| Accrued stated interest                                                                                      |     |              |   194 |
| Change in fair value included in other income and loss on change in the fair value of Tasly convertible debt |     |              |   311 |
| Fair value as of December 31, 2024                                                                           |     | $            | 2,235 |

The Company elected to measure
its Tasly convertible debt at fair value (Note 5) with changes in fair value reported in earnings as they occur. The Convertible
Debt fair values were determined using the discounted cash flow methodology based on probability weighted scenarios of the convertible
notes conversion. At issuance of the first $1 million on June 26, 2023 the time to event was 0.28 years and the discount
rate applied was 14.54%. At issuance of