Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 139

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 139
---
ited financial statements of NorthView as of and for the year ended December 31, 2024, which are included in the Proxy Statement/Prospectus.
The historical financial information of Profusa was derived from the unaudited financial statements of Profusa as of and for the six months
ended June 30, 2025, and audited financial statements of Profusa as of and for the year ended December 31, 2024, which are included
in the Proxy Statement/Prospectus. This information should be read together with NorthView’s and Profusa’s audited financial
statements, and related notes, the sections titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of NorthView” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Profusa” and other financial information included in the Proxy Statement/Prospectus.

Description of the Business Combination

<div align='center'>76</div>

More specifically, and as described
in greater detail below, at the Effective Time of the Merger:

| a. | each share of issued and outstanding Profusa Common Stock was converted into a number of shares of New                                    
 Profusa common stock, par value $0.0001 per share (“New Profusa Common Stock”), based on the Exchange Ratio that reflects                 
 an equity valuation of Profusa of $155,000,000 (as adjusted for the Incentive Equity Value, the Private Placement Value and the Aggregate 
 Company Incentive Amount), divided by an assumed value of New Profusa Common Stock of $10.00 per share.                                   |

| b. | each option to purchase Profusa Common Stock was converted into an option to purchase New Profusa Common 
 Stock based on the Exchange Ratio, and                                                                   |

| c. | each warrant to purchase Profusa Common Stock was converted into a warrant to purchase New Profusa Common 
 Stock based on the Warrant Ratio (as defined in the Merger Agreement).                                    |

PIPE Transaction

| ● | On February 11, 2025, NorthView executed a Securities Purchase Agreement (the “PIPE Subscription                                       
 Agreement”) with Ascent Partners Fund LLC (“Ascent”, and together with any additional investors who become parties to                  
 the PIPE Subscription Agreement, the “PIPE Investors”). Pursuant to the PIPE Subscription Agreement, the PIPE Investors are            
 expected, subject to the conditions relating to such purchase set forth in the PIPE Subscription Agreement, to purchase from NorthView 
 senior secured convertible notes in an aggregate principal