Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 279

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 279
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$2.0million net Company “call” option should the stock trade have traded at least 15,000,000shares in aggregate •$5.0million net Company “call” option should the stock trade have traded at least $35,000,000 in aggregate and the stock is trading above $4.00 137 •$5.0million net at Ascent’s option anytime within 12months of the Initial Closing •An ELOC is permitted 3months after the Initial Closing. NorthView must use 17.5% of any proceeds raised from the ELOC to repay any outstanding Notes at face value •6 -monthlock -upsubject to acceleration upon stock trading above $5.00/share for 20 of 30 trading days A planning meeting between the principals and legal representatives of NorthView, Profusa, AGP and Ascent was held on January 22, 2025 to discuss drafting definitive documents. On January 28, 2025, Ascent’s counsel delivered an initial draft of the PIPE Subscription Agreement to NorthView, Profusa and their respective counsels, including the form of convertible note. Drafts of such documents were exchanged in the days following, and on February 11, 2025, NorthView and the PIPE Investors executed the PIPE Subscription Agreement. See section entitled “ Summary of The Proxy Statement/Prospectus — PIPE Transaction ” for a summary of the terms of the PIPE Subscription Agreement with the PIPE Investors. Recent Amendment Summary On January 16, 2025, NorthView’s counsel sent a proposed amendment to Profusa’s counsel which included (i) amending the definition of “Milestone Event III” such that the period for Profusa to consummate the APAC Joint Venture would be extended from December 31, 2024 to December 31, 2025, (ii) amending the definition of “Milestone Event IV” to change the earnout revenue target from $99,702,000 for the fiscal year ended December 31, 2025 to an earnout revenue target of $11,864,000 for the fiscal year ended December 31, 2026, which was consistent with Profusa’s updated projections, (iii) amending the purchase price adjustments to account for Profusa’s bridge financings (the “Incentive Equity Value”), (iv) extending the Outside Date to March 22, 2025. Counsel for Profusa and NorthView exchanged drafts of a proposed amendment over the next