Company: PFSA
Filing Date: 2025-04-03
Form Type: S-4/A
Source: 0001213900-25-028544
Chunk: 244

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: S-4/A
Chunk 244
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 that could fund operations and growth, and thereby potentially further increasing the value of the Sponsor’s New Profusa holdings and their return on investment following the Business Combination. The potential detriment of the PIPE Subscription Agreement to the Sponsor and its affiliates is that the shares of New Profusa Common Stock that may be issued to the PIPE Investors upon the conversion of the PIPE Convertible Notes would dilute the ownership percentage of the Sponsor to approximately 13.6% (assuming either no redemption of NorthView Common Stock by Public Stockholders or maximum redemption NorthView Common Stock by Public Stockholders). Profusa and its affiliates.For Profusa and its affiliates, the Business Combination represents the opportunity to become a publicly traded company, with all the attendant benefits thereof including increased access to capital from the public markets. For Profusa’s affiliates, the tradability of their New Profusa Common Stock is expected to make their holdings more liquid. The potential detriments to Profusa and its affiliates are the increased costs and difficulty of operating as a public company and the dilution of their ownership stake in Profusa’s business of between approximately 47.0% (assuming no redemption of NorthView Common Stock by Public Stockholders) and approximately 47.3% (assuming maximum redemption NorthView Common Stock by Public Stockholders), from 100% of Profusa prior to the Business Combination. The PIPE Subscription Agreement benefits New Profusa by providing it with additional capital that could fund Profusa’s operations and growth following the Business Combination, and thereby increase the value of Profusa and its affiliates’ holdings and their return on investment in Profusa. The diluted ownership percentages referenced above include the dilution from the PIPE Subscription Agreement. Public Shareholders.For the Public Shareholders of NorthView, the Business Combination represents the opportunity to share in the growth of a company such as Profusa that was chosen by the management of NorthView as an acquisition target in an initial business combination (which was NorthView’s original purpose). Unlike the NorthView Insiders, if an initial business combination was not consummated by NorthView within the required time period, the Public Shareholders would receive a pro -rataportion of the trust account, equivalent to their initial investment plus interest. Like the NorthView Insiders, however, the NorthView Rights and NorthView Warrants held by the Public Shareholders would expire worthless if no business combination such as the Business Combination is completed by the deadline. The potential detriment of the PIPE Subscription Agreement to the Sponsor and its affiliates is that the shares of New Profusa Common Stock