Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 142

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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2025 and December 31, 2024 were $0 million and $2.8 million, respectively. During the three
and nine months ended September 30, 2025, the Company charged $0.3 million against proceeds of the offering in additional paid-in capital
and expensed approximately $15 million to general and administrative expenses in the statement of operations, which includes $2.4 million
charged against the Business Combination transaction costs. The $0.3 million of deferred offering costs was deducted from the gross proceeds
of the share issuance and is presented as a separate line item in the table below, reducing additional paid-in capital in the statement
of changes in stockholders’ deficit.

    Deferred
 Offering
 Costs 
  
    Balance as of December 31, 2024 
    $2,757 
  
    Charged against additional paid-in capital 
     (283)
  
    Charged against transaction costs 
     (2,474)
  
    Balance as of September 30, 2025 
    $— 

10

ELOC

On July 28, 2025, the Company entered into the Purchase Agreement and
the ELOC Registration Rights Agreement with Ascent. Upon the terms and subject to the satisfaction of the conditions contained in the
Purchase Agreement, from and after the Effective Date, the Company will have the right, in its sole discretion, to sell to Ascent up to
$100,000,000 of shares of its Common Stock, subject to certain limitations set forth in the Purchase Agreement, from time to time during
the term of the Purchase Agreement. The ELOC is accounted for in accordance with US GAAP accounting for standby equity purchase agreements
(“SEPA”) which are accounted for as an asset or liability pitot to the settlement of shares in equity and is not considered
indexed to the Company's stock under step 2 in ASC 815-40-15-7 and therefore liability classified.

As consideration for Ascent’s commitment to purchase shares of
Common Stock at the Company’s direction upon the terms and subject to the conditions set forth in the Purchase Agreement, upon our
execution of the term sheet relating to the Purchase Agreement, the Company issued Ascent warrants (the “Commitment Warrants”)
to purchase up to 900,000 shares of Company Common Stock (the “Commitment Warrant Shares”). Warrants are recorded at their
fair value on grant date which was $0.9 million and were expensed