Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 267

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 267
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 NorthView and Profusa to Arena Investors, LP (“Arena”) as a potential source of financing for the Business Combination and an NDA was entered into. Profusa and Northview chose at that time to pursue a possible financing facility with Arena based on the NorthView and Profusa’s advisors’ previous experience and familiarity with Arena as an investor. On August 15, 2023, a representative of HCW reviewed Arena’s draft term sheets for a possible $10 million ($9 million net of OID) Convertible Note and an up to $150 million Equity Line of Credit (“ELOC”) with management of Profusa. On August 17, 2023, Profusa, NorthView, and representatives of HCW had a virtual meeting with representatives of Arena to better understand the proposed terms of both the draft Convertible Note as well as the draft ELOC. On August 24, 2023, representatives of NorthView, Profusa and HCW met via Zoom call to provide comments and seek clarity on the terms of the Arena term sheets. Discussions between the parties related to the $10 million Convertible Note included general desired financing terms, timing of commitment fee payment, legal expenses, timing of funding, availability of funds and instrument structure and restrictions. In general, NorthView and Profusa considered the near -termworking capital cash requirements of validating product, mid -termcash requirements of scaling operations, the potential dilutive effect of a large near -termcapital raise and having an instrument in place to match future monthly cash needs. In exchange 133 for entering into the $10 million Convertible Note, the Combined Company would be obligated to enter into the $150 million ELOC. Specifically, negotiations included the desire of the Profusa and NorthView management teams to improve the cash at close (to $3 million) rather than $1 million (with $2 million held in escrow subject to trading limitations) to assist in meeting our minimum cash requirements. The ELOC term sheet provided for an up to $150 million ELOC for New Profusa Common Stock (limited to no more than 19.9% of the then outstanding New Profusa Common Stock) subject to definitive documentation with Arena Business Solutions Global SPC II, Ltd. (Arena) was signed by Profusa and NorthView requiring a Deal Deposit of $25,000. The term of the ELOC would be for 36 months. As part of this agreement, it was anticipated that consideration in the form of a $3,500,000 fee would be