Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 266

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 266
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ellar to review the terms they were proposing and on February 8, 2024, Vellar provided a further updated draft term sheet that was a binding term sheet. The draft binding term sheet limited the amount of cash transaction expense to be paid by NorthView and Profusa at Closing to $1.5 million, provided for additional funding to New Profusa of up to $1.0 million 90 days after Closing which could be used to pay deferred transaction expenses, with the amount of such additional funds to be netted against the amount due at settlement of the transaction, and increased the settlement amount adjustment to $2.50 per share. On February 9, 2024, a Zoom call took place between NorthView and Profusa’s management and representatives of Vellar to review the updated terms presented on February 7, 2024. On February 12, 2024, NorthView and Profusa received an updated draft of the term sheet. Questions and suggestions around term sheet provisions were subsequently provided by NorthView and Profusa’s management in anticipation of a call that took place on February 13, 2024 between NorthView and Profusa’s management and a representative of Vellar. On February 14, 2024, in a Zoom call, Vellar indicated that it wanted to add to the term sheet the condition that the APAC Joint Venture would need to close (bringing in an additional $4 million of capital) prior to closing. Management agreed to this since it had already contemplated such and it was already anticipated. On February 14, 2024, the draft of the binding term sheet was provided to NorthView and Profusa’s legal counsel who offered final suggestions and completed their review on February 15, 2024. Additionally, the final draft binding term sheet was provided to the Board and Audit Committee of NorthView who unanimously approved signing such term sheet. The Original Term Sheet was subsequently amended and restated on May 9, 2024, to clarify certain provisions of the Original Term Sheet. On February 16, 2024, HCW contacted Arena to terminate further negotiation regarding potential financings through Arena. On February 16, 2024, NorthView and Profusa entered into a binding term sheet (as amended and restated on May 9, 2024, the “Term Sheet”) with Vellar Opportunities Fund Master, Ltd. (“Vellar”), with respect to two separate transactions — a private placement investment and a cash -settledequity derivative transaction