Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 294

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 294
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 down to a growth rate of approximately 5.0% in 2034 and 2.5% in the terminal period. This ramp -downapproach is similar to the approach applied by Marshall & Stevens when analyzing the Initial Projections and preparing their fairness opinion. The expected long term growth rate of 2.5% in the terminal period is consistent with the Initial Projections. The table below presents a comparison of the projected revenue for the Initial Projections, the Updated Projections as of 3 rdquarter of 2023 and Updated Projections as of this submission:

| (Revenue in millions) (1) |     | 2022E |      |     | 2023E |      |     | 2024E |       |     | 2025E |        |     | 2026E |        |     | 2027E |        |     | 2028E |        |     | 2029E |          |     | 2030E |          |     | 2031E |          |     | 2032E |          |
|:--------------------------|:----|:------|-----:|:----|:------|-----:|:----|:------|------:|:----|:------|-------:|:----|:------|-------:|:----|:------|-------:|:----|:------|-------:|:----|:------|---------:|:----|:------|---------:|:----|:------|---------:|:----|:------|---------:|
| Initial Projections       |     | $     | 3.48 |     | $     | 5.07 |     | $     | 73.14 |     | $     | 174.89 |     | $     | 354.15 |     | $     | 559.00 |     | $     | 965.14 |     |       |      N/A |     |       |      N/A |     |       |      N/A |     |       |      N/A |
| Q3’23 Projections         |     |       |  N/A |     | $     | 0.05 |     | $     | 11.86 |     | $     |  99.70 |     | $     | 271.18 |     | $     | 485.19 |     | $     |