Company: PFSA
Filing Date: 2025-08-21
Form Type: S-1/A
Source: 0001213900-25-079401
Chunk: 272

Company: Profusa, Inc.
Filing Date: 2025-08-21
Form: S-1/A
Chunk 272
---
 $ million, respectively. The Company recognized that the promissory notes from December31, 2023 are in default as of the date of this filing. The note holders will be repaid upon closing the business transaction, and the full balance of these notes are held in current liabilities on the Consolidated Balance Sheets.

Paycheck Protection Program

On May 25, 2021, the Company borrowed $ million (the “PPP Loan 2”) as a Paycheck Protection Program loan. The Paycheck Protection Program, established as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, provides for loans to qualifying businesses and is administered by the U.S. Small Business Administration (the “SBA”). The annual interest rate of the PPP Loan 2 is %.

Under the terms of PPP Loan2, if the Company does not submit forgiveness application within 24 weeks the initial disbursement of the loan (the “Covered Period”), the Company must begin to make equal monthly payments of principal and interest starting from the end of the Covered Period until May 25, 2026. Interest on the loan continues to accumulate during any deferment period. As of December 31, 2024, and as of the date of this filing, the Company has not applied for forgiveness under PPP Loan 2.

As of December 31, 2024 and December31, 2023, the Company was in default on PPP Loan 2 due to non-payment of minimal repayment amounts required by the terms of PPP Loan 2. Accordingly, the Company classified the entire amount outstanding under PPP Loan 2 as current and accrued respective late penalties for the total amount of less than $ million as of December 31, 2024 and December31, 2023, respectively. The total past due amount of PPP Loan 2 repayments as of December 31, 2024 and December31, 2023 was $ million and $ million, respectively.

As of December 31, 2024, the contractual future minimum payments for the PPP Loan 2 were as follows (in thousands):

| Year Ending December 31, 
 2025                     |     | Amount | 1,231 |
|:-------------------------|:----|:-------|------:|
| 2026                     |     |        |   145 |
| Total                    |     | $      | 1,376 |

F-21

PROFUSA, INC. AND SUBSIDIARY
NOTES TO