Profusa issues USD 329,670 senior secured convertible note to Ascent Partners Fund
PFSA•Conversion and security terms
The note is convertible at the holder’s option at USD 4.28 per share, with a USD 1.07 floor. Beneficial ownership is capped at 4.99%, with the ability to raise the cap to 9.99%.
The note is secured by substantially all of the company’s assets. In the event of default, the rate increases to 18%, with an acceleration option. Mandatory prepayment equals 33% of net proceeds from subsequent offerings.
Senior secured convertible note issued
Profusa completed an additional closing under its February 2025 securities purchase agreement, issuing Ascent Partners Fund a Senior Secured Convertible Promissory Note.
- Note principal: USD 329,670.33 for a USD 300,000 purchase price, reflecting the original issue discount.
- Maturity: Sept. 1, 2027.
- Coupon: 7% per year, payable monthly in cash; share payment is permitted under certain conditions.
