Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 375

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 375
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 of the Note that could
be drawn on to $1.5 million. The amended and restated Note also allows for the conversion of the outstanding principal balance of
the Note to be repaid in shares of Company common stock at a price of $2.22 per share at the election of the sponsor. On May 31,
2024, the Company’s Board of Directors approved and the Company entered into a second amendment of its Convertible Working Capital
Promissory Note with the sponsor to increase the principal amount of the Note that could be drawn on to $2.5 million. The second
amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company
common stock at a price of $2.22 per share at the election of the sponsor. As of December 31, 2024, the Company had principal outstanding
of $1,919,796 and is presenting the Note at fair value on its balance sheet at December 31, 2024 in the amount of $8,908,052.

Related Party Loans

In order to finance transaction
costs in connection with an intended initial Business Combination, the initial stockholders or an affiliate of the initial stockholders
or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the
“Working Capital Loans”). If the Company completes the initial Business Combination, the Company would repay such loaned amounts
out of the proceeds of the Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside
the Trust Account. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital
held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned
amounts. Up to $1,500,000 of such loans may be convertible, at the option of the lender, into warrants at a price of $1.00 per warrant
of the post Business Combination entity. The warrants would be identical to the Private Placement Warrants, including as to exercise price,
exercisability and exercise period. At December 31, 2024 and 2023, the Company had no borrowings under the Working Capital Loans,
other than the Note described in “Note 5 — Related Party Transactions — Convertible Promissory Note — Related
Party