Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 180

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 180
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 Profusa will be listed on the Nasdaq Global Market pursuant to the Market Value Standard for initial listings. Such Market Value Standard does not have a minimum threshold requirement for stockholders’ equity or total assets of the listing company, however it is expected that at the time of listing, New Profusa will need to demonstrate its ability to operate as a going concern. In order to demonstrate New Profusa’s ability to operate as a going concern, we anticipate needing to demonstrate cash on hand at the time of closing of between $3.2million and $4.8million. We currently expect to have such cash amounts at the time of Closing. Public shareholders who do not elect to redeem their public shares in connection with the Special Meeting, or the shareholder meeting to approve the Business Combination, may be unable to recover their investment except through sales of our shares on the open market or upon our liquidation or redemption of shares. The price of our shares may be volatile, and there can be no assurance that shareholders will be able to dispose of our shares at favorable prices, or at all. NorthView’s stockholders will experience dilution as a consequence of, among other transactions, the issuance of New Profusa Common Stock as consideration in the Business Combination and due to future issuances pursuant to the Equity Incentive Plan. Having a minority share position in New Profusa may reduce the influence that NorthView’s current stockholders have on the management of New Profusa. Immediately after the Closing, assuming no holder of Public Shares exercises its redemption rights, (i) Profusa shareholders will own, collectively, approximately 47.0% of the outstanding New Profusa Common Stock; (ii) NorthView’s public stockholders will retain an ownership interest of approximately 6.2% of the outstanding New Profusa Common Stock; (iii) the Sponsor (and its affiliates) will own approximately 13.6% of the outstanding New Profusa Common Stock, (iv) the Profusa senior secured convertible noteholders will own, collectively, approximately 14.1% of the outstanding New Profusa Common Stock, and (v) other stockholders will own approximately 19.1% of the outstanding New Profusa Common Stock, in each case, on a fully diluted net exercise basis. These indicative levels of ownership interest would amount to approximately 47.1%, 6.1%, 13.6%, 14.1% and 19.1%, respectively, assuming the maximum redemption scenario. If the actual facts are different than these