Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 265

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 265
---
ible Note was also conditioned by a $10 million private placement into Profusa prior to the close of the Business Combination. On April 20, 2023, Vellar, NorthView and Profusa had an update call to review the proposed change in terms. After the meeting, Vellar informed NorthView management of its continuing interest in Profusa, however Vellar was not able to commit to an investment at that time. Benchmark Capital identified a potential SPAC investor and coordinated an introductory Zoom call with Atalaya Capital Management LP (“Atalaya”) on April 27, 2023. Atalaya does not have relationships or affiliations with NorthView or its Sponsor. Follow up calls on May 1, 2023 and May 3, 2023 were conducted to discuss potential investment instruments and terms and on May 5, 2023 Atalaya presented draft terms for a Senior Convertible Note and Redemption Recapture Agreement. Key terms were: Senior Convertible Note key terms: •$26 million (and up to $100 million) secured Convertible Notes with 1.3 million detachable warrants (reference price of $13 million) and 10% OID to be funded over multiple tranches at 10% interest; •1 sttranche $3 million of funding at the Closing of the Merger, less OID. The Issuer and Atalaya shall mutually work towards defining the remaining tranches after the transaction has been executed; •2 ndtranche $3 million, subject to trading conditions and subject to investment committee approval; •3 rdtranche $10 million, subject to trading conditions and subject to investment committee approval; and •4 thtranche $10 million, subject to trading conditions and subject to investment committee approval. Redemption Recapture Agreement key term: •Up to 5 million share ($50 million) On May 15, 2023, Atalaya, Profusa and Northview signed an NDA and on May 17, 2023 the parties had a Zoom call to discuss the draft term sheets. 132 On May 25, 2023, NorthView and Profusa responded to the draft term sheet via a marked up version of the draft term sheet. Key term changes to the Senior Convertible Note were as follows: •$26 million (an up to $100 million) secured Convertible Notes with 1.3 million detachable warrants (struck at 135% of the Note conversion price) and 7% OID to