Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 304

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 304
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 to determine the expected fair value of the Milestone Event I through IV shares (each, a “Milestone Event”), each of which have the potential of 968,750shares for a total maximum of 3,875,000 earnout shares. The earnout shares will be granted based upon certain trigger points and as stated in the Merger Agreement. Based on 10,000 simulation trials, Milestone Event I shares were achieved in 25.0% of the trials, Milestone Event II shares were achieved in 29.7% of the trials, Milestone Event III shares were achieved in 4.4% of the trials and Milestone Event IV shares were achieved in 13.6% of the trials. The values assigned to the shares were estimated based upon the simulated share price simulation and using the prices when achieved. Based upon this method, Marshall & Stevens estimated the fair value of the earnout to be approximately $9,000,000 for Milestone Event I shares, approximately $8,900,000 for the Milestone Event II shares, approximately $600,000 for the Milestone Event III shares and approximately $1,800,000 for the Milestone Event IV shares for a combined fair market value of the earnout shares of approximately $20,300,000. Therefore, total consideration was comprised of (a) the upfront consideration of 15,500,000shares valued at $10.00 or $155,000,000 plus (b) the fair value of the earnout shares of approximately $20,300,000 for total consideration of $175,300,000.

152 NorthView and Profusa have subsequently publicly disclosed an illustrative post -closinguse of proceeds summary for New ICI that reflects more current information from the time that Northview’s team performed its analysis prior to signing the Merger Agreement, as shown below: The NorthView Board’s Reasons for the Approval of the Business Combination As described under “ The Background of the Merger” above, the NorthView Board, in evaluating the Merger, consulted with NorthView’s management, NorthView advisors, financial advisors and legal advisors. The members of the NorthView Board and management have extensive transactional experience, particularly in the healthcare industry, and in reaching its unanimous decision to approve the Merger Agreement and the transactions contemplated by the Merger Agreement, the NorthView Board considered a range of factors, including, but not limited to, the factors discussed below. In light of the number and wide variety of factors considered