Company: PFSA
Filing Date: 2025-08-29
Form Type: S-1
Source: 0001213900-25-082672
Chunk: 280

Company: Profusa, Inc.
Filing Date: 2025-08-29
Form: S-1
Chunk 280
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           | 1,838 |     | $      | 22,154 |   |     | $          | 880 |     | $    | 1,369 |
| Long term debt                                   |     | $           |      — |     | $           |     — |     | $      |      — |   |     | $          |   — |     | $    |     — |

All debt was classified as current debt as of June 30, 2024 and 2025.

Convertible Debt

Convertible Notes

The annual effective interest rate of Convertible Notes was estimated from % to % per year for the six months ended June 30, 2025 and % to % per year for the six months ended June 30, 2024. The interest expense for the three months ended June 30, 2025 and 2024 was $ million and $ million, respectively. The interest expense for the six months ended June 30, 2025, and 2024 was $ million and $ million, respectively.

As of June 30, 2025 the outstanding balance of convertible notes includes related party convertible notes of $ million. As of December 31, 2024 the outstanding balance of convertible notes includes related party convertible notes of $ million. These notes were converted into New Profusa common stock upon the successful closing of the merger on July 11, 2025; see subsequent events (Note 14).

Tasly Convertible Debt

In June 2023, the Company entered into a short-term loan agreement with a related party under which it may borrow up to $ million, of which $ million was borrowed on June 26, 2023, $ million was borrowed on July 20, 2023, $ million was borrowed on August 15, 2023 and the final $ million was borrowed in February 2024 (the “Convertible debt”).

The loans bear interest at a rate of % per annum, % per annum default interest rate, and originally matured on December 31, 2023. The original maturity date was extended to March 31, 2024, subject to the parties’ decision to extend thereafter. Upon occurrence of certain events of default by the Company, including failure to repay in full the amounts owed at maturity, the lender will have an option to convert the entire outstanding balance and accrued but unpaid interest under the Convertible debt into senior unsecured promissory notes on substantially the same terms as the outstanding