Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 60

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 between $0.23 and $0.40 per share based on the daily VWAP.  As part of these puts, and in line with the purchase agreement,
the Company used the proceeds to repay $0.7 million of the principal balance outstanding on the Ascent PIPE convertible note and additionally
incurred expenses of $0.1 million, resulting in net proceeds to the Company of $3.0 million. During the months of October and November,
Ascent also converted $2.8 million of the principal balance into common stock, resulting in total loan repayments as of the date
of this filing of $4.1 million, $3.5 million of which occurred subsequent to September 30, 2025. The $2.8 million principal balance converted into 12,220,837 shares of common stock.

36

Item 2.  Management’s Discussion
and Analysis of Financial Condition and Results of Operations.

This Report includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking
statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of
activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such
as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,”
“believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors
that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange
Commission (“SEC”) filings.

Business Overview

We are a clinical-stage digital health and medical technology company
focused on developing biosensing solutions to improve health outcome for patients in a variety of different diseases and conditions. Our
first product is Lumee Oxygen, which enables physicians to ascertain the extent of perfusion, or passage of blood through the circulatory
system to an organ or tissue, in patients with Critical Limb Ischemia (CLI) both during and after endovascular revascularization procedures.
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