Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 149

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 which, at the Closing, the separate corporate existence of Merger Sub ceased, with Legacy Profusa as the
surviving corporation becoming a wholly-owned subsidiary of the Company. As a result of the Business Combination, the Company owns
100% of the outstanding common stock of Legacy Profusa. In connection with the closing of the Business Combination, the Company
changed its name from “NorthView Acquisition Corporation” to “Profusa, Inc.”

More specifically, and as described in greater detail below, at the
Effective Time of the Merger:

●each share of issued and outstanding Legacy Profusa Common Stock, including
shares converted from convertible debt and convertible Preferred Stock, was converted into a number of shares of Company Common Stock,
based on the Exchange Ratio (as defined in the Merger Agreement) that reflects an equity valuation of Legacy Profusa of $155,000,000 (as
adjusted for the Incentive Equity Value, the Private Placement Value and the Aggregate Company Incentive Amount (as such terms are defined
in the Merger Agreement)), divided by an assumed value of Company Common Stock of $10.00 per share,

●each option to purchase Legacy Profusa Common Stock was converted into an option to purchase Company Common Stock based on the Exchange
Ratio, and

●each warrant to purchase Legacy Profusa Common Stock was converted into a warrant to purchase Company Common Stock based on the Warrant
Ratio (as defined in the Merger Agreement).

PIPE Transaction

On February 11, 2025, the Company executed a Securities Purchase Agreement
(the “PIPE Subscription Agreement”) with Ascent Partners Fund LLC (“Ascent”, and together with any additional
investors who become parties to the PIPE Subscription Agreement, the “PIPE Investors”). Pursuant to the PIPE Subscription
Agreement, the PIPE Investors are expected, subject to the conditions relating to such purchase set forth in the PIPE Subscription Agreement,
to purchase from NorthView senior secured convertible notes in an aggregate principal amount of up to $22,222,222 (the “PIPE Convertible
Notes”) for a purchase price of up to $20,000,000, after 10% OID.

At the Closing and pursuant to the PIPE Subscription Agreement, the
Company issued a PIPE Convertible Note in the principal amount of $10,000,000 (the “Initial Note”), reflecting a 10% OID.
The Initial Note matures on the date that is 18-months from Closing (the “Maturity Date”) and is convertible at any time at