Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 64

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 64
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 defined in the Merger Agreement). The Exchange Ratio will be equal to the value of a share of Profusa Common Stock, based on the sum of (a) an equity valuation of Profusa of $155,000,000 and (b) the Incentive Equity Value (which is expected to be $29,018,330 for purposes of this proxy statement/prospectus), plus (c) the Private Placement Value (which is expected to be $14,867,899 for purposes of this proxy statement/prospectus), plus (d) the Aggregate Exercise Price, minus (e) the Aggregate Company Incentive Amount, divided by an assumed value of New Profusa Common Stock of $10.00 per share. As of May8, 2025, the Exchange Ratio and the Company Reference Share Value are estimated to be 0.75 and $7.47, respectively, at the time of Closing. Subject to certain future revenue and stock -pricebased milestones, Profusa shareholders will have the right to receive an aggregate of up to an additional 3,875,000shares of New Profusa Common Stock (the “Earnout Shares”). One -quarterof the Earnout Shares will be issued if, either (i) between the 18 -monthanniversary and the two -yearanniversary of the Closing, the combined company’s common stock achieves a closing sale price of at least $12.50 per share for any 20 trading days within a 30 consecutive trading day period or (ii) the consummation of a subsequent transaction occurs during this period, pursuant to which the combined company’s stockholders receive the right to consideration implying a per share value of the combined company’s common stock of at least $12.50 (“Milestone Event I”). One -quarterof the Earnout Shares will be issued if, either (i) between the first and second anniversary of the Closing, the combined company’s common stock achieves a closing sale price of at least $14.50 per share for 20 trading days within a 30 consecutive trading day period or (ii) the consummation of a subsequent transaction occurs during this period, pursuant to which the combined company’s stockholders 3 receive the right to consideration implying a per share value of the combined company’s common stock of at least $14.50 (“Milestone Event II”). One -quarterof the Earnout Shares will be issued upon the consummation of the APAC Joint Venture (as defined in this proxy statement/prospectus