Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 54

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 the Earnout Shares would
be issued to Profusa stockholders if the combined company achieves Earnout Revenue of $11,864,000 for the fiscal year ended December
31, 2024, and one-quarter of the Earnout Shares would be issued to Profusa stockholders if the combined company achieves Earnout Revenue
of $99,702,000 for the fiscal year ended December 31, 2025. Amendment No. 1 also clarified the exercise price of certain the Company
Warrants.

Additionally, if Milestone Event I or Milestone
Event II are achieved by the second anniversary of the Closing, NorthView’s sponsor, NorthView Sponsor I, LLC and Profusa stockholders,
will be issued additional shares up to the amount of any shares forgone as an inducement to obtaining Additional Financings (as defined
in the Merger Agreement).

On February 11, 2025, the Company entered into
a securities purchase agreement (the “SPA”) with an institutional investor (the “Investor”). Pursuant to the
SPA, the Investor is expected, subject to the conditions relating to such purchase set forth in the SPA, to purchase from the Company
senior secured convertible promissory notes in an aggregate principal amount of up to $22,222,222 (the “Convertible Notes”)
for a purchase price of up to $20,000,000, after a 10% original issue discount (“OID”).

On May 8, 2025, the Company entered into a non-redemption agreement
(the “Non-Redemption Agreement”) with I-Bankers Securities, Inc. and Dawson James Securities, Inc. (together, the “Investors”),
pursuant to which such Investors agreed that to the extent that redemptions in connection with the vote to approve the Business Combination
reduces the Company’s trust account balance below $1.25 million, the Investors would offer such redeeming shareholders an
opportunity to rescind the redemption of their shares and would instead purchase such shares. Such purchases would be structured in compliance
with the requirements of Rule 14e-5 under the Exchange Act or would otherwise not constitute a tender offer pursuant
to the Exchange Act.

Merger Agreement Amendment and Termination
of Financing

On January 12, 2024, the parties to the Merger
Agreement entered into an Amendment No. 2 to the Merger Agreement pursuant