Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 329

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 329
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 fair value remeasurement  |     |             |      — |   |     |             |   451 |   |     |        |      — |   |
| Less: unamortized debt discount |     |             |      — |   |     |             |     — |   |     |        |  1,967 |   |
| Less: interest                  |     |             |    (70 | ) |     |             |  (195 | ) |     |        |    (75 | ) |
| Total convertible notes payable |     | $           | 19,533 |   |     | $           | 2,543 |   |     | $      | 27,895 |   |

<div align='center'>F-43

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)</div>

Note 5 — Debt(cont.)

These notes were converted
into New Profusa common stock upon the successful closing of the merger on July 11, 2025; see subsequent events (Note 14).

Promissory Notes

In a series of transactions
during 2010 and 2011 two of the Company’s founders provided $0.2 million to the Company to fund general corporate purposes
in exchange for promissory notes. The notes accrue interest annually at a simple interest rate of 5% with no set maturity date.

During the year ended December 31,
2022, the Company borrowed $0.3 million from two of its founders at zero interest rate to finance its short-term operations, from
which $0.2 million was repaid in the same period.

During the year ended December 31,
2023, the Company borrowed short-term promissory notes of $0.3 million from an existing investor and additional $0.1 million
from an unrelated party repayable on demand at any time after December 31, 2023, with annual interest rate of 12%.

During the three and six months
ended June 30, 2025 and 2024, the Company did not make any repayments from the outstanding balance of the promissory notes.

As of June 30, 2025 and
December 31, 2024, accrued and unpaid interest on the promissory notes was $0.3 million and $0.3 million, respectively.
Interest expense on