Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 345

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 345
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 (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.

The total consideration received
by Profusa Security Holders at the Closing of the transactions contemplated by the Merger Agreement is the newly issued shares of Common
Stock and securities convertible or exchangeable for newly issued shares of Common Stock with an aggregate value equal $255,958,617, with
each Profusa Stockholder receiving for each share of Profusa Common Stock held (after giving effect to the exchange or conversion of all
outstanding Profusa Preferred Stock for shares of Profusa Common Stock and treating all vested in-the-money Profusa Convertible Securities
(including, on a net exercise basis, all vested qualified Profusa Options) as if such securities had been exercised as of immediately
prior to the Merger, but excluding all unvested Profusa Options) a number of shares of Common Stock equal to a conversion ratio of approximately
0.34. As a result, the Profusa Security Holders received an aggregate of 25,595,862 shares of newly issued Common Stock as Merger Consideration.

<div align='center'>F-52

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)</div>

Note 14 — Subsequent Events
(cont.)

The Business Combination was
accounted for as a reverse capitalization in accordance with GAAP. Profusa was deemed the accounting predecessor of the combined
business, and New Profusa is the successor SEC registrant, meaning that Profusa’s financial statements for previous periods will
be disclosed in the registrant’s future periodic reports filed with the SEC.

As of June 30, 2025, the
Company had outstanding Profusa Preferred Stock of 17,863,934 shares, common stock of 6,984,666 shares which are made up of 5,604,651
common shares outstanding and 1,380,015 shares of common stock from in-substance nonrecourse promissory notes, and fully vested options
outstanding and exercisable of 2,364,814 shares. These shares were fully converted at the completion of the Business Combination. Additionally,
as of June 30, 2025, the Convertible Notes of $19.5 million and Senior Convertibles Notes of $