Company: PFSA
Filing Date: 2025-04-03
Form Type: CORRESP
Source: 0001213900-25-028546
Chunk: 14

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: CORRESP
Chunk 14
---
 and utilized a Probability Weighted Expected Return Model to fair value of the convertible debt at
issuance and at quarter end.

The fair value of $1,591,380 as of September 30, 2024 was based on
the Sponsor’s option for the Note to be settled in cash. Subsequent to September 30, 2024, it was determined that Trust redemptions
were likely going to exceed original expectations and in order to maximize net cash at the Closing of the Merger the Sponsor agreed to
convert the note at $2.22. Subsequently, the fair value of the Note was updated to reflect a conversion at $2.22 and the Fair Value was
increased to $8.9 million, which is included in NorthView’s Form 10-K and the Amendment.

<div align='center'>* * * * *</div>

If you have any comments or questions please feel free to address them
to the undersigned. You can reach me at my office at 202-724-6848, on my mobile telephone number at 202-415-8300, and via email at ralph.demartino@afslaw.com.

Thank you in advance for your prompt attention
to this Correspondence and to the Amendment. We expect to file a Rule 461 request as soon as the Staff confirms that it has no further
comments.

Respectfully submitted,

| /s/ Ralph V. De Martino |
| Ralph V. De Martino     |
| RVD/mc                  |
| cc: Jack Stover         |