Profusa issues USD 384,615 senior secured convertible note to Ascent Partners Fund
PFSA•Note terms, conversion features and security
The note matures on Sept. 16, 2027, or earlier on the Option Closing Date, and bears 7% annual interest, payable monthly.
It is convertible at the holder’s option at USD 4.28 per share, with a floor price of USD 1.07. The ownership cap is 4.99%, expandable to 9.99%.
The note is secured by substantially all assets. In default, the rate rises to 18%, with potential acceleration. Mandatory prepayment is set at 33% of subsequent offering proceeds.
Additional closing under securities purchase agreement
Profusa completed an additional closing under its Feb. 11, 2025 securities purchase agreement with Ascent Partners Fund.
It issued a Senior Secured Convertible Promissory Note with USD 384,615.38 principal for USD 350,000, reflecting an original issue discount.
