Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 41

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
---
 Business Combination and is convertible at any time at the Investor’s option at a conversion price equal to the
lower of $10 or 95% of the lowest daily volume-weighted average price per share of the post-combination company common stock in the 10
trading days prior to the original issue date of the Initial Note and shall be adjusted, without limitation, based on down-round and
most-favored nation (MFN) price and terms protections (the “Conversion Price”).

The SPA contemplates that additional Convertible
Notes will be purchased in multiple tranches:

(i)Prior
to the one-year anniversary of the Initial Closing Date, subject to the conditions set forth in the SPA, the Company may request that
the Investor purchase additional Convertible Notes having an aggregate principal amount of up to $12,222,222 at a purchase price of $11,000,000
(reflecting a 10% OID), as follows:

(a)Provided
a registration statement has been filed for the shares underlying the Initial Note, shares of combined company common stock, par value
$0.0001 (“New Profusa Common Stock”) have traded a volume of at least 15,000,000 shares in the aggregate, and no default
or event of default has occurred, the Company may call and thereby require the Investor to purchase Convertible Notes in the aggregate
principal amount of $2,222,222 for a purchase price of $2,000,000 (reflecting a 10% OID) (“Second Purchase”);

(b)Provided
a registration statement is effective for the shares underlying the Initial Note, New Profusa Common Stock has traded a volume of at
least $35,000,000 in the aggregate after the $2,000,000 Second Purchase has closed, no default or event of default has occurred and the
stock has traded at a trading price of no less than $4.00 for a period of five trading days preceding such purchase, the Company may
call and thereby require the Investor to purchase Convertible Notes in the aggregate principal amount of $5,555,555 for a purchase price
of $5,000,000 (reflecting a 10% OID); and

(c)The
Investor at its sole discretion may call from the Company and thereby require the Company to sell an additional Convertible Note having
an aggregate principal amount of $4,444,444 at a purchase price of $4,000,000 (reflecting a