Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 65

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 lock-up provisions. 
Subsequently, on January 19, 2025, the agreement was modified by the parties such that the Company will be required to pay $2,000,000,
payable in cash, if a business combination is consummated. As a result of the Business Combination, I-Bankers was paid $900,000 and Dawson
James was paid $600,000 under the Business Combination marketing agreement. The payment of the remaining $500,000 has been deferred until
after the Closing.

On December 19, 2024, the Company engaged A.G.P
to serve as the placement agent in connection with a proposed business combination transaction. The Company shall pay to A.G.P. a cash
fee (the “Cash Fee”) equal to 9.0% in a convertible note offering, note, or other similar equity-linked offerings, and shall
be calculated from the face value of notes issued, which is payable at the close of a Business Combination. On June 17, 2025, the Company
entered a settlement agreement with A.G.P. for the Cash Fee of $968,000 related to the debt private placement (the “Offering”)
to be issued at the Closing. Pursuant to the settlement agreement, as a result of the Business Combination, the Company paid A.G.P. $550,000
at the Closing and the remaining $418,000 of the fees were deferred and due on the earlier of (i) the second tranche of the debt private
placement being issued and (ii) December 31, 2025. The Company also agreed to reimburse A.G.P. $50,000 for expenses incurred in connection
with the offering.

On
June 15, 2023, the Company engaged the Benchmark Company LLC (“Benchmark”) to provide advisory services related to the Business
Combination and the Convertible Notes. The Company was to pay Benchmark at the closing of the Business Combination an advisory fee of
$750,000 in two tranches. The first tranche will be $500,000 earned upon the closing of the Business Combination in the surviving public
entity’s common stock (“Tranche 1”). The number of
shares to be issued is calculated on the 30th day following the Closing by dividing $500,000 and the trailing 5-day VWAP of
the Company’s common stock as calculated by Bloomburg with a minimum price of $2.00.  The second tranche will be