Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 346

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 346
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27.9 million were converted
in full at the closing of the Business Combination.

From June 30, 2025 through
the closing of the Business Combination, options continued to vest on normal vesting schedules, and interest continued to accrue on the
notes. Upon completing the Business Combination on July 11, 2025, all outstanding Profusa Preferred Stock of 17,863,934 shares, common
stock of 6,984,666 shares, were converted into New Profusa at an exchange ratio of .3459 for 6,178,315 shares from Profusa Preferred Stock,
and 2,415,67 shares of Common Stock of which 1,938,392 were from common shares outstanding and 477,284 were from common shares issued
from the in-substance nonrecourse promissory notes. Additionally, 2.3 million outstanding options which were vested or expected to
vest were rolled over from Profusa into New Profusa outstanding options at an exchange rate of .3459.

In addition, the following
convertible notes were converted into New Profusa Common Stock based on the principal and accrued interest as of July 11, 2025. Convertible
Notes with an outstanding balance of $19.6 million in principal and accrued interest converted into 2,801,697 shares of New Profusa
at $7.00/share, Senior Convertible Notes with an outstanding balance of $20.8 million in principal and accrued interest converted
into 5,189,138 shares of New Profusa at $4.00/share, Senior Convertible Bridge Notes of $3.1 million in principal and accrued interest
were repaid in cash in the amount of $0.25 million with the remaining $2.85 million converted into 1,277,162 shares of New Profusa
at $2.22/share, Senior Secured Convertible Notes of $2.8 million in principal and accrued interest converted into 5,542,261 shares
of New Profusa at $0.50/share. Of the 5,542,261 New Profusa shares issued to Senior Secured Note holders, 710,220 shares were contributed
by the Sponsor. As part of the initial shares at closing, the Incentive Equity Value of $29,018,330 was converted to shares at $10 per
share for 2,901,833 shares allocated to the merger consideration, as defined in the Business Combination Amendment No. 4.