Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 138

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 138
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 Purchase Agreement

On July 28, 2025, the Company entered into a Securities Purchase Agreement
(the “Purchase Agreement”) with Ascent Partners Fund LLC (the “Purchaser”). Pursuant to the terms and conditions
set forth in the Purchase Agreement, the Company may, from time to time and at its discretion, issue and sell to the Purchaser shares
of its common stock (the “Purchased Securities”) for an aggregate purchase price of up to $100,000,000 (the “Maximum
Aggregate Purchase Price”), subject to certain limitations and conditions described below.

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Under the Purchase Agreement, the Company may deliver advance notices
(each, an “Advance Notice”) to the Purchaser to request the purchase of shares of common stock, with each closing (a “Closing”)
to occur on a trading day following the end of a 10 or fewer trading day valuation period commencing on the trading date immediately
following the delivery of the Advance Notice, or as determined by the Purchaser. The purchase price per share at each Closing will be
equal to 97% of the lowest volume-weighted average price (“VWAP”) of the Company’s common stock during the applicable
valuation period, subject to a floor price and other adjustments as set forth in the Purchase Agreement. The maximum purchase price at
any single Closing is limited to the lower of (a) $5,000,000 or (b) 100% of the average daily traded value of the common stock for the
five trading days immediately preceding such Closing.

The Purchase Agreement contains certain limitations, including that
the aggregate number of shares issued under the Purchase Agreement may not exceed the number of shares registered under the applicable
registration statement or the exchange cap (generally 19.9% of the Company’s outstanding common stock as of the effective date),
unless stockholder approval is obtained or as otherwise permitted by the rules of the principal trading market. In addition, the Purchaser’s
beneficial ownership of the Company’s common stock is limited to 9.99% of the outstanding shares immediately after giving effect
to any issuance.

The Purchase Agreement also provides for the issuance of a warrant
to the Purchaser for the purchase of 900,000 shares of common stock, and includes a Registration Rights Agreement, Lock-Up Agreements
from the Company’s officers and directors, and a Transfer Agent Instruction Letter. The Company is required to reserve sufficient
shares of common stock to satisfy its obligations under the Purchase Agreement and to maintain the