Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 273

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 273
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usa and NorthView continued discussions regarding a potential amendment to the Merger Agreement to address Profusa’s updated projections and the additional merger consideration in connection with Profusa’s bridge financings. Additionally, the Outside Date of the Merger Agreement had passed, and the agreement was thus terminable without cause. Based on discussions with potential investors to purchase the bridge note from the noteholder, Profusa expected that it would need to issue shares equivalent to approximately 2.9 million shares of Merger Consideration to accommodate such a purchase and meet the investor’s conversion price requirements. Ascent Financing Background Following discussions between Jack Stover and an institutional investor, on July 3, 2024, the institutional investor presented a draft term sheet for the purchase up to $11.0 million of convertible promissory notes, which contemplated warrant coverage on the note purchase. Profusa, NorthView and their respective counsel reviewed such term sheets and discussions with the institutional investor continued through November of 2024. On November 13, 2024, Northview and Profusa met with a representative of Alliance Global Partners (“AGP”) to discuss Profusa and potential PIPE and working capital opportunities. Discussions ensued with AGP and on December 6, 2024, NorthView and AGP signed an engagement letter dated December 19, 2024. Pursuant to the engagement letter, AGP shall serve as the non -exclusiveplacement agent, advisor or underwriter in any public or private offering or financing of NorthView’s securities in connection with a proposed business combination transaction between NorthView and Profusa. Additionally, NorthView shall pay AGP a cash fee equal to 9.0% of the face value of any convertible note offering, or other similar equity -linkedoffering. 136 On January 10, 2025, AGP facilitated an introductory meeting between NorthView, Profusa and Ascent Partners Fund LLC (“Ascent”) to discuss Profusa’s business opportunities and the combined company’s financing requirements. Discussions ensued and on January 11, 2025 Ascent presented NorthView a draft term sheet for a Convertible Note transaction. Key terms were as follows •Up to $16million net of 10% OID Senior Secured Convertible Note, 10% interest, 18month maturity •$8.0million net Initial Closing •$8.0million net Additional Closing •$2.0million net “call” option should the stock trade a threshold amount of aggregate volume amount over the 30 trading