Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 359

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 359
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, implement, develop and improve the Licensed Products to the new joint venture entity. The contributed License is expected to have a fair value of $10 million, and the Company will retain a 40% interest in the joint venture, while transferring 60% of the share capital to Tasly in return for $6 million to be paid to Profusa ($4.4 million in cash and the settlement of the prior $1.6 million loan provided to Profusa). The accounting for this specific transaction cannot be considered completed at this time, as one of the Conditions Precedent based on the execution of the license agreement include 1) the accomplishment of the registration or filing procedure to competent authorities of the Licensed IP regarding the License, and 2) the Company and the JV shall provide Tasly with a valuation report (the “Valuation Report”) in respect of the License issued by an independent third -partyvaluation firm recognized by Tasly and the Company. This valuation report prepared by a third party must be completed prior to closing on the agreement in order to validate the mutually agreed fair value of the license of $10million. Additionally, per the agreement, the closing is set to occur on the JV within 5 business days after each of the pre -closingconditions has been satisfied or duly waived by the Parties; one of which pre -closingconditions is Profusa completing their merger transaction. As such, upon closing the merger transaction, management believes that the Tasly APAC JV will have all closing conditions cleared within 30 days. The specified term that the exclusive license to the joint venture has not yet been defined. The Company currently expects that the term of the license will extend perpetually through the life of the joint venture, or as long as Tasly maintains their controlling interest. Basis of Pro Forma Presentation The 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.” The adjustments in the unaudited pro forma condensed combined financial information have been identified and presented to provide relevant information of New Profusa upon consummation of the Business Combination and other events contemplated by the Merger Agreement. Assumptions and estimates underlying the unaudited pro forma adjustments set forth in the unaudited pro forma condensed combined financial information are described in the accompanying notes. The unaudited pro forma condensed combined financial information has been presented