Company: PFSA
Filing Date: 2025-04-03
Form Type: S-4/A
Source: 0001213900-25-028544
Chunk: 572

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: S-4/A
Chunk 572
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 interest                                  |     |             | (1,112 | ) |     |             |   (97 | ) |     |        | (1,183 | ) |
| Total convertible notes payable                 |     | $           | 18,419 |   |     | $           | 2,234 |   |     | $      | 25,268 |   |

F-46

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 5 — Debt (cont.) Promissory Notes In a series of transactions during 2010 and 2011 two of the Company’s founders provided $0.2 million to the Company to fund general corporate purposes in exchange for promissory notes. The notes accrue interest annually at a simple interest rate of 5% with no set maturity date. During the year ended December 31, 2022, the Company borrowed $0.3 million from two of its founders at zero interest rate to finance its short -termoperations, from which $0.2 million was repaid in the same period. During the year ended December 31, 2023, the Company borrowed short -termpromissory notes of $0.3 million from an existing investor and an additional $0.1 million from an unrelated party repayable on demand at any time after December 31, 2024, with annual interest rate of 12%. Interest expense on the promissory notes was less than $0.1 million for each of the years ended December 31, 2024 and 2023. The carrying value of the promissory notes as of December 31, 2024 and 2023 was $0.9 million and $0.8 million, respectively. As of December 31, 2024 and 2023, outstanding balance of promissory notes includes all related party promissory notes of $0.9 million and $0.8 million, respectively. The Company recognized that the promissory notes from December31, 2023 are in default as of the date of this filing. The note holders will be repaid upon closing the business transaction, and the full balance of these notes are held in current liabilities on the Consolidated Balance Sheets. Paycheck Protection Program On May 25, 2021, the Company borrowed $1.3 million (the “PPP Loan 2”) as a Paycheck Protection Program loan.