Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 282

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 282
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31, 2022 through December31, 2028, all as prepared and provided to Marshall & Stevens by Profusa’s management, with such projections further extended by Marshall & Stevens through the year ended December31, 2031; •spoke with certain members of Profusa’s management regarding Profusa’s operations, financial condition, future prospects and projected operations and performance and regarding the merger; •participated in discussions with the board and its counsel regarding Profusa’s projected financials results, among other matters; •reviewed certain business, financial and other information regarding Profusa that was furnished to it by Profusa through its management; •reviewed certain other publicly available financial data for certain companies that Marshall & Stevens deemed relevant for purposes of its analysis and publicly available transaction prices and premiums paid in other transactions that it deemed relevant for purposes of its analysis; •performed a discounted cash flow analysis based on the projected financial information provided by Profusa’s management; and •conducted such other financial studies, analyses and inquiries as it deemed appropriate. In connection with its review, Marshall & Stevens relied upon and assumed, without independent verification, the accuracy and completeness of all data, material and other information furnished or otherwise made available to it, discussed with or reviewed by it, or publicly available, and did not assume any responsibility with respect to such data, material and other information. In addition, Profusa’s management advised Marshall & Stevens, and Marshall & Stevens assumed, that Profusa’s projected financial information provided to Marshall & Stevens was reasonably prepared on bases reflecting the best currently available estimates and judgments of Profusa’s future financial results and condition. In evaluating fairness, Marshall & Stevens assumed a fair market value for NorthView shares of $10.00 per share (the then estimated redemption value of such shares). This value was used, with the consent of NorthView’s Board, due to the fact that NorthView is a special purpose acquisition company with only limited trading history and no material operations or assets other than cash or cash equivalent and an as yet to be approved merger agreement. Accordingly, Marshall & Stevens did not perform an independent analysis regarding the fair market value of the common stock to be issued pursuant to the Merger Agreement. 139 Marshall & Stevens expressed no opinion with respect to such forecasts and projections or the assumptions on which they are based. Marshall & Stevens also relied upon and assumed, without independent verification, that there had been no material change in Profusa’s assets, liabilities, financial condition, results of operations, business or prospects since the