Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 124

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 124
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 for future issuance
under its equity incentive plan at its discretion. Profusa is expected to file one or more registration statements on Form S-8 under
the Securities Act to register shares of Profusa Common Stock or securities convertible into or exchangeable for shares of Profusa Common
Stock issued pursuant to Profusa’s equity incentive plan. Any such Form S-8 registration statements will automatically become
effective upon filing. Accordingly, shares registered under such registration statements will be available for sale in the open market.

In the future, Profusa may
also issue its securities in connection with investments or acquisitions. The amount of shares of Profusa Common Stock issued in connection
with an investment or acquisition could constitute a material portion of Profusa’s then-outstanding shares of common stock. Any
issuance of additional securities in connection with investments or acquisitions may result in additional dilution to Profusa’s
stockholders.

Because there are no current plans to pay cash dividends on Profusa Common Stock for the foreseeable future, you may not receive any return on investment unless you sell Profusa Common Stock for a price greater than that which you paid for it.

Profusa may retain future
earnings, if any, for future operations, expansion and debt repayment and has no current plans to pay any cash dividends for the foreseeable
future. Any decision to declare and pay dividends as a public company in the future will be made at the discretion of Profusa’s
board of directors and will depend on, among other things, Profusa’s results of operations, financial condition, cash requirements,
contractual restrictions and other factors that Profusa’s board of directors may deem relevant. In addition, Profusa’s ability
to pay dividends may be limited by covenants of any existing and future outstanding indebtedness it or its subsidiaries incur. As a result,
you may not receive any return on an investment in Profusa Common Stock unless you sell your shares of common stock for a price greater
than that which you paid for it.

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We may issue additional shares of its common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of Profusa Common Stock.

Pursuant to the Equity Incentive
Plan and the ESPP, following the completion of the proposed transactions, Profusa may issue an aggregate of approximately 15% of the fully
diluted shares of Profusa Common Stock, which amount will be subject to increase from time to time. Profusa