Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 152

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 152
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 the two entities’ accounting policies. As a result of the review,
management has not identified differences between the accounting policies of the two entities which have a material impact on the financial
statements of the Combined Company. Based on its analysis, management did not identify any differences that would have a material impact
on the unaudited pro forma condensed combined financial information. As a result, the unaudited pro forma condensed combined financial
information does not assume any differences in accounting policies.

4. Adjustments to Unaudited Pro Forma Condensed Combined Financial Information

The unaudited pro forma condensed
combined financial information has been prepared to illustrate the effect of the Business Combination and has been prepared for informational
purposes only.

The following unaudited pro
forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended
by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses”
to depict the accounting for the transaction (“Transaction Accounting Adjustments”) and present the reasonably estimable synergies
and other transaction effects that have occurred or are reasonably expected to occur (“Management’s Adjustments”). NorthView
has elected not to present Management’s Adjustments and is only presenting Transaction Accounting Adjustments in the unaudited pro
forma condensed combined financial information. The historical financial statements have been adjusted in the unaudited pro forma condensed
combined financial information to include all necessary Transaction Accounting Adjustments pursuant to Article 11 of Regulation S-X,
including those that are not expected to have a continuing impact.

The audited historical financial
statements have been adjusted in the unaudited pro forma condensed combined financial information to give pro forma effect to transaction
accounting adjustments that reflect the accounting for the transaction under GAAP. All activity between Profusa and Northview has
been eliminated between the companies on the pro forma statement under tickmark J.

The pro forma combined statement
of operations does not reflect a provision for income taxes or any amounts that would have resulted had the Combined Company filed consolidated
income tax returns during the periods presented. The pro forma condensed combined balance sheet does not reflect the deferred taxes of
the Combined Company as a result of the Business Combination. Upon Closing of the Business Combination, it is likely that the Combined
Company will record a full valuation allowance against the total U.S. and state deferred tax assets given the net operating losses
and valuation allowance of Profusa as the recoverability of the tax assets is uncertain