Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 302

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 302
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     |             |     39 |     |             |     — |     |        |      — |   |     |            |   — |     |      |     — |
| Balance at June 30, 2024                         |     | $           | 17,348 |     | $           | 1,838 |     | $      | 22,154 |   |     | $          | 880 |     | $    | 1,369 |
| Long term debt                                   |     | $           |      — |     | $           |     — |     | $      |      — |   |     | $          |   — |     | $    |     — |

All debt was classified as
current debt as of June 30, 2024 and 2025.

Convertible Debt

Convertible Notes

The annual effective interest
rate of Convertible Notes was estimated from % to % per year for the six months ended June 30, 2025 and % to
% per year for the six months ended June 30, 2024. The interest expense for the three months ended June 30, 2025
and 2024 was $ million and $ million, respectively. The interest expense for the six months ended June 30, 2025,
and 2024 was $ million and $ million, respectively.

As of June 30, 2025 the
outstanding balance of convertible notes includes related party convertible notes of $ million. As of December 31, 2024
the outstanding balance of convertible notes includes related party convertible notes of $ million. 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).

Tasly Convertible Debt

In June 2023, the Company
entered into a short-term loan agreement with a related party under which it may borrow up to $ million, of which $ million
was borrowed on June 26, 2023, $ million was borrowed on July 20, 2023, $ million was borrowed on August 15,
2023 and the final $ million was borrowed in February 2024 (the “Convertible debt”).

The loans bear interest at
a rate of % per annum, % per annum default interest rate, and originally matured on December 31, 2023. The original maturity
date was extended to March 31,