Company: PFSA
Filing Date: 2025-07-28
Form Type: 8-K
Source: 0001213900-25-067855
Chunk: 1

Company: Profusa, Inc.
Filing Date: 2025-07-28
Form: 8-K
Item: Item 1.01
Chunk 1
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 costs. The Purchaser
may resell the Purchased Securities during the valuation period, and the Company is obligated to return any surplus shares if the Maximum
Aggregate Purchase Price is exceeded.

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 listing of its common stock on its
principal trading market.

The Company has made customary representations and warranties, including
as to its organization, authorization, capitalization, compliance with laws, and the absence of material adverse effects, among others.
The Purchaser has also made customary representations, including as to its status as an accredited investor and its investment intent.

The Purchase Agreement contains covenants restricting the Company from
entering into certain equity line or at-the-market transactions, exchange transactions, or related party transactions without the Purchaser’s
consent, and requires the Company to maintain current public information, timely file required reports, and make certain public disclosures
regarding the transaction. The Company is also required to indemnify the Purchaser and its affiliates for certain losses arising out of
the transaction.

The proceeds from the sale of the Purchased Securities are to be used
exclusively for the purchase of Bitcoin (which may be used for repayment of indebtedness), provided the Company’s cash balance on
any Closing Date exceeds $5,000,000. If the cash balance is less than $5,000,000, proceeds must first be used to bring the cash balance
to that amount, with the remainder used to purchase Bitcoin. The Company is prohibited from using proceeds for executive compensation,
distributions, or repayment of indebtedness to security holders.

The Purchase Agreement will terminate on the earlier of (a) July 27,
2028, (b) the date the Purchaser has purchased the Maximum Aggregate Purchase Price, or (c) upon notice of termination by either party.
The Purchase Agreement may be terminated by either party at any time.

As consideration for Ascent’s commitment to purchase the Purchased
Securities under the Purchase Agreement, upon our execution of the term sheet relating to the Purchase Agreement, we issued Ascent warrants
(the “ Commitment Warrants”) to purchase 900,000 shares of Common Stock and an exercise price