Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 339

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 339
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 shares of New Profusa, adjusted proportionately based on the Exchange Ratio. Issuance of the Milestone Earnouts and Profusa Inducement Recoupment Earnouts to the holders of the vested in -the-moneyProfusa Options will represent a modification of the respective awards, however, the results of such modification is expected to be immaterial. Because no terms of all other share -basedawards are modified upon consummation of the Business Combination, no accounting impact for such outstanding awards is expected. Public and private warrants of NorthView are not expected to be modified as a result of the Business Combination, resulting in no accounting impact upon consummation of Business Combination. Although the accounting treatment for the APAC Joint Venture has not yet been determined, NorthView preliminarily expects this joint venture to be treated as an equity method investment. There are not expected to be any liabilities transferred to the joint venture entity. However, Profusa will be contributing an irrevocable, exclusive, perpetual, sub -licensableand assignable license in Asia Pacific to use, implement, develop and improve the Licensed Products to the new joint venture entity. The contributed License is expected to have a fair value of $10 million, and the Company will retain a 40% interest in the joint venture, while transferring 60% of the share capital to Tasly in return for $6 million to be paid to Profusa ($4.4 million in cash and the settlement of the prior $1.6 million loan provided to Profusa). All accounting conclusions will be finalized after the closing of the Business Combination and the finalization of the joint venture valuation. The joint venture transaction will require a valuation report to be completed by a third party. For the purpose of the preliminary pro forma information, the Company has accounted for the transaction as if it paid $4 million in noncash consideration (representing the fair value of its retained 40% ownership of the Licensed Products contributed to the joint venture) as its investment in the joint venture and equity interest in the joint venture. In addition, the Company recorded the sale of 60% of the joint venture and recognized a gain (representing the difference between the $6 million consideration received and the $0 net book value of the Licensed Products prior to the sale). Profusa has not historically incurred any expenses that should be reflected in this entity on an ongoing basis. 173 The specified term that the exclusive license to the joint venture has not yet been defined. The Company currently expects that the term of the