Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 271

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 271
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 completed their review on February 15, 2024. Additionally, the final draft binding term sheet was provided to the Board and Audit Committee of NorthView who unanimously approved signing such term sheet. The Original Term Sheet was subsequently amended and restated on May 9, 2024, to clarify certain provisions of the Original Term Sheet. On February 16, 2024, HCW contacted Arena to terminate further negotiation regarding potential financings through Arena. Vellar Financing Background On February 16, 2024, NorthView and Profusa entered into a binding term sheet (as amended and restated on May 9, 2024, the “Term Sheet”) with Vellar Opportunities Fund Master, Ltd. (“Vellar”), with respect to two separate transactions — a private placement investment and a cash -settledequity derivative transaction. The amended term sheet dated May 9, 2024 provided Vellar the option to terminate the transaction for any reason, at any time, in its absolute discretion and will be entitled to receive all of Vellar’s reasonable costs and expenses relating to the Transaction (not to exceed $75,000). In the event Vellar elected to terminate the transaction, Vellar would have no obligation to NorthView, Profusa or New Profusa. For avoidance of doubt, such payment of the breakup fee shall be due at close of Business Combination. Vellar notified NorthView and Profusa that they would be unable to provide cash at closing of the Merger and would consider cash investments post - clos ing of the business combination . NorthView and Profusa evaluated Vellar’s position, the risk of JV funding at close and level of trust account redemptions. It was eventually determined that NorthView would like to explore other PIPE opportunities that would provide the proper level of cash at close to support Profusa’s operations and meet Nasdaq’s listing requirements. 135 On June 25, 2024 a meeting was held between NorthView, Profusa and Vellar, where NorthView and Profusa requested that Vellar allow them to explore PIPE opportunities, which would provide additional cash upon the closing of the business combination. In an email dated June 25, 2024, Vellar consented to NorthView and Profusa pursuing alternative funding and PIPE opportunities, reserving the right to approve any transaction considered. NorthView commenced discussions with other investors regarding various PIPE structures. In June 2024, NorthView received indicative terms from investors for a senior secured convertible note that would provide additional cash at