Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 266

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 266
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 be funded over multiple tranches at % interest; •1 sttranche $3 million of funding at the Closing of the Merger, less OID; •2 ndtranche $3 million, upon registration of the underlying shares; •3 rdtranche $10 million, subject to trading conditions and subject to investment committee approval; and •4 thtranche $10 million, subject to trading conditions and subject to investment committee approval. On June 2, 2023, Atalaya responded to NorthView and Profusa’s counteroffer and essentially reverted back to their original proposal and on June 20, 2024 the parties executed non -bindingterm sheets for the Senior Convertible Note and Redemption Capture agreement. The Senior Convertible Note key terms included: •$26 million (an up to $100 million) secured Convertible Notes with 1.3 million detachable warrants (reference price of $13 million) and 10% OID to be funded over multiple tranches at 10% interest; •1 sttranche $3 million of funding at the Closing of the Merger, less OID; •2 ndtranche $3 million, upon registration of the underlying securities; •3 rdtranche $10 million, subject to trading conditions and subject to investment committee approval; and •4 thtranche $10 million, subject to trading conditions and subject to investment committee approval. Atalaya, Profusa and NorthView proceed with due diligence and drafting definitive agreements however, the parties could not finalize a definitive agreement. After negotiating with Atalaya, and following various conversations with Benchmark and NorthView counsel, there were several matters that could not be resolved satisfactorily. The unresolved matters included the proposed size of $100 million for the convertible note was beyond the anticipated needs of the combined company and was expected to be too costly; the lack of clarity on available capital proceeds to be available at the time of Closing; the lack of certainty of funding of the 3 rdand 4 thtranches; and the proposed term of the proposed Redemption Recapture Agreement of seven years was determined to be too long for the combined company’s needs. The general inability to find a mutual resolution to these matters resulted in our decision not to proceed with further discussion of the transactions. HCW and I -Bankersidentified potential SPAC investors whose terms were reasonable and favorable to the specific de -SPACingplans and capital needs of NorthView and their target, Profusa. In July of 2023, HCW introduced