Company: PFSA
Filing Date: 2025-08-21
Form Type: S-1/A
Source: 0001213900-25-079401
Chunk: 150

Company: Profusa, Inc.
Filing Date: 2025-08-21
Form: S-1/A
Chunk 150
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 held in street name by brokers and other nominees. 95 MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS References to “Profusa,” the “Company,” “we,” “us,” and “our,” refer to Profusa, Inc. and its subsidiaries. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the unaudited condensed consolidated financial statements and the notes thereto contained elsewhere in this prospectus (this “Report”). Certain information contained in the discussion and analysis set forth below includes forward -lookingstatements that involve risks and uncertainties. Profusa, Inc., our wholly owned California subsidiary (“Old Profusa”), became our accounting predecessor upon the closing of the Business Combination on July11, 2025. The results of operations discussed below are those of Old Profusa and its consolidated subsidiaries. Cautionary Note Regarding Forward-Looking Statements This Prospectus includes forward -lookingstatements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward -lookingstatements on our current expectations and projections about future events. These forward -lookingstatements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward -lookingstatements. In some cases, you can identify forward -lookingstatements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange Commission (“SEC”) filings. Business Overview We are a clinical -stagedigital health and medical technology company focused on developing biosensing solutions to improve health outcomes for patients in a variety of different diseases and conditions. Our first product is Lumee Oxygen, which enables physicians to ascertain the extent of perfusion, or passage of blood through the circulatory system to an organ or tissue, in patients with Critical Limb Ischemia (CLI) both during and after endovascular revascularization procedures. Lumee Oxygen has already received regulatory approval in