Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 36

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 convertible promissory notes in an aggregate principal amount of up to $22,222,222 (the “Convertible
Notes”) for a purchase price of up to $20,000,000, after a 10% original issue discount (“OID”). The SPA contemplates
that the Convertible Notes will be purchased in multiple tranches:

(i)The initial closing amount of $9,000,000 will be purchased, subject to the conditions set forth in the SPA, at the consummation (the “Initial Closing Date”)
of the Business Combination. The Convertible Notes to be issued by the Company on the Initial Closing Date will be in an aggregate principal
amount of $10,000,000.

(ii)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