Company: PFSA
Filing Date: 2025-04-03
Form Type: S-4/A
Source: 0001213900-25-028544
Chunk: 264

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: S-4/A
Chunk 264
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. •On September16, 2022, the parties held a call including their respective legal counsel. •Additional Merger Agreement discussions and negotiations took place on via conference call on September21, September27, September28, September 29 and December31, 2022, October6, October17, October19, October24, October29, October 31 and November1, 2022. •Management of NorthView met with certain directors of Profusa via a virtual meeting on October1, 2022. On November 1, 2022 NorthView’s management team provided NorthView’s Board with a summary of key terms expected to be included in the final Merger Agreement, including: • Consideration (i)$155 million equity value with an earn -outopportunity up to $38.75 million. (ii)Earn -outmilestones based on revenue and stock price. • $15 million of minimum net cash at close. • Financial inducements to meet minimum cash requirements (i)Sponsor and Profusa will contribute an aggregate of up to 1,300,000 incentive shares of NorthView Common Stock with 80% of such shares contributed by Sponsor and 20% contributed by Profusa. (ii)If additional incentive shares above 1,300,000shares are required, Profusa and Sponsor will each contribute 50% of such shares, respectively. (iii)Sponsor and Profusa will have the ability to obtain additional shares, pursuant to the Profusa Inducement Recoupment Earnouts (as defined below). • Lock -up agreement:A one -yearlock -upperiod, with 25% of the lock -upshares releasing six months after closing, and 25% of the lock -upshares releasing nine months after closing. • Customary Representations and Warranties. On November 3, 2022, a NorthView Board meeting was called in order to formally approve the Merger Agreement, and the Merger Agreement was executed on November 7, 2022. On September 12, 2023, the parties to the Merger Agreement entered into an Amendment No. 1 to the Merger Agreement (“Amendment No. 1 to the Merger Agreement”) pursuant to which the parties agreed to revise the revenue earnout milestones to reflect the Updated Projections, as described below. Specifically, Amendment No. 1 revised the definition of 129 “Milestone Event III” and “Milestone Event IV” such that