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BERKELEY, Calif. - Digital health company Profusa Inc. (NASDAQ:PFSA), currently trading at $0.88 per share with a market capitalization of $28.91 million, announced Wednesday it has made an initial $1 million investment in Bitcoin as part of its previously disclosed treasury management strategy. According to InvestingPro analysis, the company’s shares are currently trading below their Fair Value.
The company, which develops tissue-integrated sensors for continuous biochemical monitoring, has partnered with BlockFills, a provider of crypto trading solutions, to execute its Bitcoin treasury management plan. InvestingPro data reveals the company faces financial challenges, with a weak financial health score and current ratio near zero.
"This initial investment is an important first step in our collaboration with Ascent Partners Fund to establish a low cost, capital efficient, best of breed, Bitcoin treasury strategy," said Ben Hwang, Profusa’s Chairman and CEO, in a press release statement.
Profusa indicated the move is intended to hedge against macroeconomic uncertainties, citing Bitcoin as a "digital store of value for the future."
The Berkeley-based company commercializes injectable biosensors that can continuously transmit medical-grade data. Its technology platform aims to enable ongoing monitoring of an individual’s biochemistry for personal and medical applications.
The investment represents Profusa’s entry into the growing trend of public companies allocating portions of their treasury reserves to digital assets. The company stated it intends to continue its Bitcoin investment strategy while maintaining sufficient capital for its core digital health platform operations.
In other recent news, Profusa, Inc. has announced a significant financial strategy involving bitcoin. The company has entered into a Securities Purchase Agreement with Ascent Partners Fund LLC, which will allow for the purchase of up to $100 million of Profusa’s common stock. Under this agreement, Profusa plans to allocate all net proceeds toward purchasing bitcoin, conditional on maintaining a minimum cash balance of $5 million. This move marks a notable shift in the company’s treasury strategy. Profusa expects to commence its bitcoin purchases this week. These developments reflect the company’s growing interest in digital assets. Investors and market analysts will likely be watching closely to see how this strategy impacts Profusa’s financial performance.
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