Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 586

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 586
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 | $           | 17,877 |   |     | $           | 2,157 |   |     | $            | 23,636 |   |

Promissory Notes In a series of transactions during 2010 and 2011 two of the Company’s founders provided $0.2 million to the Company to fund general corporate purposes in exchange for promissory notes. The notes accrue interest annually at a simple interest rate of 5% with no set maturity date. During the year ended December 31, 2022, the Company borrowed $0.3 million from two of its founders at zero interest rate to finance its short -termoperations, from which $0.2 million was repaid in the same period. During the year ended December 31, 2023, the Company borrowed short -termpromissory notes of $0.3 million from an existing investor and additional $0.1 million from an unrelated party repayable on demand at any time after December 31, 2023, with annual interest rate of 12%. During the nine months ended September 30, 2024, the Company did not make any repayments from the outstanding balance of the loan. As of September 30, 2024 and December 31, 2023, accrued and unpaid interest on the promissory notes was $0.3 million and $0.2 million, respectively. Interest expense on the promissory notes was less than $0.1 million for each of the nine months ended September 30, 2024 and 2023. The carrying value of the promissory notes as of September 30, 2024 and December 31, 2023 was $0.9 million and $0.8 million, respectively. Paycheck Protection Program On May 25, 2021, the Company borrowed $1.3 million (the “PPP Loan 2”) as a Paycheck Protection Program loan. 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 Loan 2 is 1%. Under the terms of PPP Loan2, if the Company does not submit forgiveness application within 24 weeks the initial disbursement of the loan (the “Covered Period”), the Company must begin to make equal monthly payments