Profusa shareholders approve $100 million equity line of credit with Ascent Partners

Profusa, Inc. (NASDAQ:PFSA) shareholders approved a proposal on Friday to authorize an equity line of credit transaction with Ascent Partners Fund LLC. The micro-cap company, currently valued at $11.77 million, has been facing significant financial challenges, with InvestingPro data showing its stock price has declined over 97% in the past six months. The approval came during a special virtual meeting held on August 29, 2025, according to a statement released in a Securities and Exchange Commission filing.

The proposal allows Profusa to issue and sell shares of its common stock to Ascent Partners Fund LLC for an aggregate purchase price of up to $100 million, subject to certain limitations and conditions as outlined in the agreement. The transaction was presented to shareholders to comply with Nasdaq Stock Market LLC Listing Rule 5635(d). According to InvestingPro analysis, this financing comes at a crucial time as the company’s current ratio stands at 0.0, indicating significant liquidity challenges.

Of the 32,788,877 shares of common stock outstanding as of the July 30, 2025 record date, holders of 17,334,149 shares were present or represented by proxy at the meeting, constituting a quorum. The vote tally showed 17,206,846 shares in favor, 120,164 against, and 7,139 abstaining.

No other actions were taken at the meeting. The information is based on a statement contained in the company’s SEC filing.

In other recent news, Profusa, Inc. has made significant strides in its business operations. The company has amended its Securities Purchase Agreement and Senior Secured Convertible Promissory Note with Ascent Partners Fund LLC, restructuring the issuance of convertible promissory notes into four tranches. The first tranche, amounting to $10 million, has already been closed. Additionally, Profusa has announced two key leadership appointments, including the addition of former Acting U.S. Secretary of Veterans Affairs, Peter O’Rourke, to its Board of Directors as the lead independent director.

Following its recent Nasdaq listing, Profusa shared a strategy update emphasizing revenue growth, AI infrastructure, and operational scaling. The company is also expanding its reach internationally by signing a Letter of Intent with Dismeval, S.L. to distribute its Lumee Oxygen platform in Spain. In another strategic move, Profusa has invested $1 million in Bitcoin as part of its treasury management strategy, partnering with BlockFills for execution. These developments highlight Profusa’s ongoing efforts to strengthen its financial and operational framework.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.