Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 467

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 467
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 “PPP Loan 2”), respectively, as a Paycheck Protection Program loan (together the “PPP Loans”). The Paycheck Protection Program, established as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, provides for loans to qualifying businesses and is administered by the U.S. Small Business Administration (the “SBA”). The annual interest rate of the PPP Loans is 1%. The PPP Loans are eligible for forgiveness, provided the borrower has met the respective forgiveness requirements, has timely submitted an application for forgiveness, and the forgiveness has been granted by the SBA. PPP Loan 1 has been approved for loan forgiveness, and management intends to apply for PPP Loan 2 forgiveness after Closing. PPP Loan 2 is currently in default due to non -payment, and is classified as a current liability on the balance sheet. 267

Interest Expense Interest expense consists primarily of the interest on our convertible notes, senior notes, Tasly Convertible Debt, and PPP Loans. Other Income Other income consists primarily of income earned from sale of equipment and a short -termsublease of a portion of our facilities. Results of Operations Comparison of the Years Ended December 31, 2024 and 2023. The following table sets forth our operating results for the periods indicated (in thousands):

| 2024                                                                     |     | Year Ended   
 December 31, |        | 2023 |     |   |         |   |     | Change |        | % |     |      |    |
|:-------------------------------------------------------------------------|:----|:-------------|-------:|:-----|:----|:--|--------:|:--|:----|:-------|-------:|:--|:----|-----:|:---|
| Revenue                                                                  |     |              |    100 |      |     | $ |      45 |   |     | $      |     55 |   |     | 1.22 | %  |
| Operating expenses:                                                      |     |              |        |      |     |   |         |   |     |        |        |   |     |      |    |
| Research and development                                                 |     | $            |  1,608 |      |     | $ |   2,036 |   |     | $      |   (428 | ) |     |  (21 | )% |
| General and administrative                                               |     |              |  2,992 |      |     |