Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 114

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
Prior to the one-year anniversary of the Initial Closing Date,
subject to the conditions set forth in the SPA, the Company may request that the Investor purchase additional Convertible Notes having
an aggregate principal amount of up to $12,222,222 at a purchase price of $11,000,000 (reflecting a 10% OID), as follows:

(a)Provided a registration statement has been filed for the shares
underlying the Initial Note, shares of combined company common stock, par value $0.0001 (“New Profusa Common Stock”) have
traded a volume of at least 15,000,000 shares in the aggregate, and no default or event of default has occurred, the Company may call
and thereby require the Investor to purchase Convertible Notes in the aggregate principal amount of $2,222,222 for a purchase price of
$2,000,000 (reflecting a 10% OID) (“Second Purchase”);

(b)Provided a registration statement is effective for the shares
underlying the Initial Note, New Profusa Common Stock has traded a volume of at least $35,000,000 in the aggregate after the $2,000,000
Second Purchase has closed, no default or event of default has occurred and the stock has traded at a trading price of no less than $4.00
for a period of five trading days preceding such purchase, the Company may call and thereby require the Investor to purchase Convertible
Notes in the aggregate principal amount of $5,555,555 for a purchase price of $5,000,000 (reflecting a 10% OID); and

(c)The Investor at its sole discretion may call from the Company
and thereby require the Company to sell an additional Convertible Note having an aggregate principal amount of $4,444,444 at a purchase
price of $4,000,000 (reflecting a 10% OID) to be purchased at any time within 12 months of the Initial Closing.

Note 7 – Stockholders’ Deficit

Preferred stock — The
Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 and with such designations,
rights and preferences as may be determined from time to time by the Company’s board of directors. As of March 31, 2025 and
December 31, 2024, there was no preferred stock issued or outstanding.

Common Stock — The