Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 261

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 261
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 the financial projections provided, the operating experience of the respective management teams, and the goal of having between 12 and 18 months of cash on hand at Closing. While Nasdaq has several market tiers and listing standards under which a company may be listed, we currently expect that New Profusa will be listed on the Nasdaq Global Market pursuant to the Market Value Standard for initial listings. Such Market Value Standard does not have a minimum threshold requirement for stockholders’ equity or total assets of the listing company, however it is expected that at the time of listing, New Profusa will need to demonstrate its ability to operate as a going concern. In order to demonstrate New Profusa’s ability to operate as a going concern, we anticipate needing to demonstrate cash on hand at the time of closing of between $3.2million and $4.8million. We currently expect to have such cash amounts at the time of Closing. The Inducement Share amount of up to 1,300,000shares, allocated among Sponsor and Profusa, was suggested by NorthView’s investment bankers in order to reduce the cost basis of potential investors. It was agreed that Sponsor would initially provide up to 1,040,000 of the incentive shares and Profusa would provide up to 260,000shares from its Aggregate Merger Consideration. Further, the parties agreed that if additional shares were needed as an incentive to investors, each party would bear the cost equally. The terms of the Lock Up Agreements were advised by investment bankers and legal counsel as being commercially reasonable. The parties will not receive any additional consideration, other than the Aggregate Merger Consideration, as a result of entering into the lock -upagreements. As time progressed, NorthView engaged in parallel and detailed discussions with Company A and Profusa, as discussed in more detail below: •On or about the third week of February 2022, NorthView was introduced to Company A by a merchant banking group, Tungsten Partners (Tungsten), who had previously been engaged by Company A, and on February 24 NorthView and Company entered into a non -disclosureagreement and Company A began to provide detailed information to NorthView. •Tungsten and Company A’s chief executive officer presented to NorthView on March 24 and April4, 2022, respectively. •NorthView engaged in additional due diligence calls with Tungsten on April 20 and26, 2022. •NorthView’s management created an initial analysis of possible business combination terms