Monitor for potential dilution from conversion of the $1.11 million note and exercise of the 3.3 million share warrant, both at $0.50 per share. Watch for signs of financial distress as this short-term, high-interest financing follows a prior default on warrant delivery. The 120-day lock-up provides temporary supply stability but watch for selling pressure when it expires in August 2026.
Price Chart
Executive Summary
Profusa, Inc. raised $1 million through a senior secured convertible promissory note and accompanying warrant issuance to Ascent Partners Fund LLC. The $1.11 million note carries a 12% interest rate, a one-year maturity, and converts into common stock at $0.50 per share, while the warrant allows purchase of 3.3 million shares at the same price. The financing includes a 120-day lock-up on underlying shares.
Key Financial Metrics
Key Facts
- Profusa, Inc. issued a $1.11 million senior secured convertible note to Ascent Partners Fund LLC with a $1 million purchase price, representing original issue discount
- The note has a one-year maturity (April 20, 2027), accrues interest at 12% per annum, and is convertible into common stock at $0.50 per share
- As part of the financing, Profusa issued a warrant to purchase 3,333,333 shares of common stock at $0.50 per share, representing a 3x coverage of the note principal
- The transaction includes a 120-day lock-up agreement preventing Ascent from selling or hedging the underlying shares until August 22, 2026
- The company previously failed to deliver a warrant on time for a prior closing, requiring a side letter agreement with Ascent to waive the default
Financial Impact
The $1.11 million convertible note with 12% interest and $0.50 conversion price represents dilutive financing. The warrant for 3.3 million shares at $0.50 provides additional dilution potential of $1.67 million if fully exercised.
Risk Factors
- High dilution risk if the note is converted and warrant exercised at $0.50 per share
- Short one-year maturity creates refinancing risk in April 2027
- Previous default on warrant delivery suggests potential operational or financial challenges
- High 12% interest rate increases cash flow burden
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-047578 |
| Document: ea028759101ex10-2.htm | 0001213900-26-047578 |
| Document: ea028759101ex10-4.htm | 0001213900-26-047578 |
| Document: ea0287591-8k_profusa.htm | 0001213900-26-047578 |
| Document: ea028759101ex10-3.htm | 0001213900-26-047578 |
| Document: 0001213900-26-047578-index-headers.html | 0001213900-26-047578 |
| Document: 0001213900-26-047578-index.html | 0001213900-26-047578 |
| Document: 0001213900-26-047578.txt | 0001213900-26-047578 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 20w ago | 8-K | — | awaiting T+20 | — | — |
May 26, 2026 21w ago | 8-K | — | awaiting T+20 | — | — |
May 15, 2026 23w ago | 8-K | — | awaiting T+20 | — | — |
May 8, 2026 24w ago | 8-K | — | awaiting T+20 | — | — |
May 1, 2026 25w ago | S-1/A | — | awaiting T+20 | — | — |
Apr 29, 2026 25w ago | 8-K | — | awaiting T+20 | — | — |
Apr 28, 2026 25w ago | S-1 | — | awaiting T+20 | — | — |
Apr 27, 2026 26w ago | 8-K | — | awaiting T+20 | — | — |
Apr 24, 2026 26w ago | 8-K | — | awaiting T+20 | — | — |
Apr 6, 2026 29w ago | 8-K | — | awaiting T+20 | — | — |
US Market Status
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