Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 7

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 7
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 time, including, among other things, market conditions, the trading price of
the Common Stock and determinations by us as to the appropriate sources of funding for our business and operations.

We may not issue or sell any shares of Common Stock to Ascent under
the Purchase Agreement which, when aggregated with all other shares of Common Stock then beneficially owned by Ascent and its affiliates
(as calculated pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and Rule 13d-3 thereunder), would result in Ascent beneficially owning more than 9.99% of the outstanding shares of Common Stock
(the “Beneficial Ownership Limitation”).

The net proceeds to us from sales that we elect
to make to Ascent under the Purchase Agreement, if any, will depend on the frequency and prices at which we sell shares of our Common
Stock to Ascent. We expect that any proceeds received by us from such sales of Common Stock to Ascent will be used solely for the purchase
of Bitcoin (which can be used for debt repayment) provided that the Company’s cash balance on the date of the applicable sale exceeds
$5,000,000. If the cash balance is less than $5,000,000, proceeds to the Company shall be allocated first to bring the balance to $5,000,000
and the remaining proceeds to purchase Bitcoin.

There are no restrictions on future financings,
rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement or ELOC Registration Rights Agreement.

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Ascent has agreed that, during the term of the
Purchase Agreement, none of Ascent, any of its officers, or any entity managed or controlled by Ascent will engage in or effect, directly
or indirectly, for its own principal account or for the principal account of any such entity managed or controlled by Ascent, any short
sales (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or hedging transaction
that establishes a net short position in the Common Stock.

The Purchase Agreement will automatically terminate
on the earliest to occur of (i) July 27, 2028, (ii) the date on which Ascent shall have purchased from us under the Purchase
Agreement shares of Common Stock for an aggregate gross purchase price of $100,000,000, and (iii) the