Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 388

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 388
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 share at the election of the sponsor. On May 31, 2024, the Company’s Board of Directors approved and the Company entered into a second amendment of its Convertible Working Capital Promissory Note with the sponsor to increase the principal amount of the Note that could be drawn on to $ 2.5million. The second amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $ 2.22per share at the election of the sponsor. As of June 30, 2025 and December 31, 2024, the Company had principal outstanding of $ 1,919,796and is presenting the Note at fair value on its balance sheet at June 30, 2025 and December 31, 2024 in the amount of $ 10,288,111and $ 8,908,052, respectively. The Company has deferred the repayment of the Note to six months after the Closing. Securities Purchase Agreement On February 11, 2025, in a private transaction, the Company entered into a securities purchase agreement (the “SPA”) with an institutional investor (the “Investor”). Pursuant to the SPA, the Investor is expected, subject to the conditions relating to such purchase set forth in the SPA, to purchase from the Company’s senior secured convertible promissory notes (“Ascent Note”) in an aggregate principal amount of up to $ 22,222,222for a purchase price of up to $ 20,000,000, after a 10% original issue discount (“OID”). As of June 30, 2025 and December 31, 2024, the Company is presenting the Ascent Note at fair value on its balance sheet at June 30, 2025 and December 31, 2024 in the amount of $ 193,878and $0, respectively (See details on Note 6). As a result of the Business Combination, pursuant to the SPA, the Company issued a PIPE Convertible Note in the principal amount of $ 10,000,000(the “Initial Note”) for a purchase price of $ 9,000,000, reflecting a 10% OID. The Initial Note matures on the date that is 18-months from the Closing and is convertible at any time at the Investor’s option at a conversion price equal to the lower of $ 10or 95% of the lowest daily volume