Company: PFSA
Filing Date: 2025-08-29
Form Type: S-1
Source: 0001213900-25-082672
Chunk: 2

Company: Profusa, Inc.
Filing Date: 2025-08-29
Form: S-1
Chunk 2
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 purchase agreement, dated as of February 11, 2025, we entered into with Ascent, which we refer to in this prospectus as the PIPE Subscription Agreement. There is no guarantee that the Ascent Note (or the full note amount thereof) will be converted into shares of Common Stock. The Ascent Note may not be converted by Ascent into shares of Common Stock if such conversion would result in the investors or their affiliates owning in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of all shares issuable upon conversion of the Ascent Note (the “Beneficial Ownership Limitation”); provided, that Ascent may increase or decrease the Beneficial Ownership Limitation upon at least 61 days’ prior notice to Profusa so long as such increase does not exceed 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of all shares issuable upon conversion of the Ascent Note. On August1, pursuant to a Notice and Waiver, the Beneficial Ownership Limitation was increased from 4.99% to 9.99% and we waived the requirement for the 60 days’ advance notice for such increase. The Ascent Note matures on January11, 2027, which is 18 -monthsfrom closing of the Company’s business combination on July11, 2025 (the “Maturity Date”) and is convertible at any time at Ascent’s option at a conversion price equal to the lower of $10 or 95% of the lowest daily volume -weightedaverage price per share (“VWAP”) of our Common Stock in the 10 trading days prior to the original issue date of the Ascent Note and shall be adjusted, without limitation, based on down -roundand most -favorednation (MFN) price and terms protections (the “Conversion Price”). The Ascent Note includes a “Minimum Interest Amount” equal to 10% of the principal amount, which represents a full year of interest payments under the Ascent Note; provided, that such Minimum Interest Amount shall be reduced by the amount of interest accrued on the principal amount of the Ascent Note. Interest shall accrue on the aggregate unconverted and then outstanding principal amount of the Ascent Note at a rate of 10% per annum, provided that the Minimum Interest Amount shall be fully earned and accrued on the original issue date of the Ascent Note. Upon an event of default, the interest rate