Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 177

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 177
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 and continued issuing them to date. Our senior convertible notes bear interest at 12% per
annum and their then outstanding principal and accrued but unpaid interest automatically converted into common shares of New Profusa between
$0.50 and $4.00 per share upon consummation of the Merger transaction, which occurred on July 11, 2025, based on the fixed conversion
price defined in the agreement. In addition, upon consummation of the Merger, all senior noteholders obtained the right to receive additional
shares upon achievement by New Profusa of certain share price and sales milestones (the earnout shares).

On August 8, 2023, a new
wholly owned subsidiary, Profusa Asia Pacific Pte. Ltd (“APAC”), was created and incorporated by the Company under the laws
of Singapore. Upon creation, the new entity was capitalized by the Company by payment of $1,000 for 1,000 Ordinary Shares. As a result,
at the time of incorporation, the entity became a wholly owned subsidiary of the Company. The entity was created with the expectation
of jointly conducting the business of developing, manufacturing and commercializing the Lumee Glucose and the Lumee Oxygen products, currently
under development by the Company, together with a third party. No business or activities will have been conducted by the entity from the
date of formation through and until the closing date of the proposed License Agreement and Shareholders Agreement between the Company
and Best Life Technology Ltd, an entity wholly owned and controlled by the Tasly Holding Group (“Tasly”). Subsequent to the
closing of the Merger between the Company and NorthView, the Company expects to sign and execute a License Agreement and Shareholders
Agreement (the “APAC Joint Venture”) setting forth the relative and other terms under which the development and business activities
of the entity will be conducted.

The Company is in the process
of negotiating the formation of the joint venture (“APAC Joint Venture”), which includes the related party from which the
amounts under the Tasly Convertible Debt was borrowed. The proceeds of the loan are intended to continue the development and commercialization
of the Company’s technology in certain countries of the Asia Pacific region.

In the event we either fail
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 outstanding balance and accrued but unpaid interest (in