Company: PFSA
Filing Date: 2025-08-29
Form Type: S-1
Source: 0001213900-25-082672
Chunk: 388

Company: Profusa, Inc.
Filing Date: 2025-08-29
Form: S-1
Chunk 388
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 the satisfaction of certain conditions including the full repayment of the First and Second Tranches, at least fifty percent (50%) repayment or conversion of the Third Tranche, effectiveness of a registration statement, and no Nasdaq listing deficiency. The Amendment supersedes and replaces all prior provisions relating to “Additional Closings” and “Additional Notes,” and all references to such terms in the PIPE Subscription Agreement and related documents are to be construed in accordance with the new tranche structure. Concurrently, on August25, 2025, the Company entered into Amendment No. 1 (the “ Note Amendment”) to the Initial Note. The Note Amendment modifies the terms of the Initial Note, specifically amending Section 4(b) to revise the conversion price provisions on any conversion date to be the lower of (i) the Conversion Price on such date and (ii) ninety -fivepercent (95%) of the lowest daily volume weighted average price (“ VWAP”) for the Company’s common stock during the ten consecutive trading days immediately preceding the applicable conversion date (the “ Alternate Conversion Price”), provided that in no event shall the conversion price be less than the Floor Price of twenty percent (20%) of the closing sale price of the common stock on the principal trading market on the trading day immediately preceding the Note Amendment’s effective date, which was August22, 2025. 2025 Committed Equity Facility Commitment Warrants As consideration for Ascent’s commitment to purchase shares of Common Stock upon our execution of the term sheet relating to the Purchase Agreement, we issued Ascent Commitment Warrants to purchase 900,000shares of Common Stock and an exercise prices of $0.01 per share (the “Commitment Warrant Shares”), which Commitment Warrant Shares have a total aggregate value equal to 0.9% of Ascent’s $100,000,000 total aggregate purchase commitment under the Purchase Agreement (assuming a value per Commitment Warrant Share of $1.00). On July 28, 2025, we entered into the Purchase Agreement and a related registration rights agreement (the “ELOC Registration Rights Agreement”), with Ascent. II-3

Item 16. Exhibits and Financial Statement Schedules. (a) Exhibits: The Company has filed with this registration statement or incorporated by reference herein certain exhibits as specified below pursuant to Rule 12b -32under the Exchange Act.

| Exhibit No. 
 3.1         
 3.2         |     | Exhibit Description