Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 17

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 17
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 Profusa Common Stock could decline, and you could lose part or all of your investment. There may be additional risks that we do not presently know, or that we believe are immaterial as of the date hereof.

You should consider carefully the following risk factors, together with all of the other information included in this prospectus. If any of the following risks, either alone or taken together, or other risks not presently known to us or that we currently believe to not be significant, develop into actual events, then our business, financial condition, results of operations or prospects could be materially adversely affected. If that happens, the market price of our common stock could decline, and stockholders may lose all or part of their investment.

Risks Related to the Committed Equity Facility

It is not possible to predict the actual number of shares of Common Stock, if any, we will sell under the Purchase Agreement to Ascent, or the actual gross proceeds resulting from those sales.

On July 28, 2025, we
entered into the Purchase Agreement with Ascent, pursuant to which Ascent has committed to purchase up to $100,000,000 of shares of our
Common Stock, subject to certain limitations and conditions set forth in the Purchase Agreement. The shares of our Common Stock that may
be issued under the Purchase Agreement may be sold by us to Ascent at our discretion from time to time for a period of up to 36 months
(unless the Purchase Agreement is earlier terminated) beginning on the Effective Date.

We generally have the right
to control the timing and amount of any sales of our shares of Common Stock to Ascent under the Purchase Agreement. Sales of our Common
Stock, if any, to Ascent under the Purchase Agreement will depend upon market conditions and other factors to be determined by us. We
may ultimately decide to sell to Ascent all, some or none of the shares of our Common Stock that may be available for us to sell to Ascent
pursuant to the Purchase Agreement.

Because the per share purchase
price that Ascent will pay for Purchase Shares in any Purchase that we may elect to effect pursuant to the Purchase Agreement will be
determined by reference to the VWAP during the applicable Valuation Period, on the applicable Purchase Date for such Purchase, as of the
date of this prospectus, it is not possible for us to predict the number of shares of Common Stock that we will sell to Ascent as Purchase
Shares under the Purchase Agreement, the purchase price per share