Profusa Amends Convertible Notes: New $0.338 Floor Price and $1.20 Conversion Price
PFSA is trading near its 52-week low of $1.58 (10% above the low) on light trading volume (0.1× avg).
Summary
Profusa amended two convertible notes held by Ascent Partners, setting a new conversion price formula with a $0.338 floor and $1.20 minimum, and waived anti-dilution provisions on three other notes.
Key Events · Financing and Capital Events · PFSA
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Convertible Note Terms Amended
Amendment No. 1 to the April 2 and April 20 notes changes the conversion price to the greater of $1.20 or 95% of the lowest daily VWAP over the prior 5 trading days, with a fixed floor price of $0.338 per share.
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Floor Price Set Below Current Stock Price
The new $0.338 floor price is below the current stock price of $1.74, allowing Ascent to convert at a significant discount if the stock declines.
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Anti-Dilution Waivers Granted
Ascent waived Sections 5(b) and 5(c) anti-dilution provisions on three notes issued August 12, September 1, and September 16, 2026, reducing future share-count adjustments.
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Reserve Amount Redefined
The Reserve Amount for the April Notes is now 150% of the maximum aggregate shares issuable, calculated assuming conversion at the floor price.
Analysis · PFSA · Industrial Applications And Services
Profusa amended two senior secured convertible notes held by Ascent Partners Fund, resetting the conversion price to the greater of $1.20 or 95% of the lowest VWAP over five days, with a hard floor of $0.338. The previous fixed conversion price was $0.50. The new floor is below the current stock price of $1.74, meaning Ascent can convert at a significant discount if the stock falls. The company also secured waivers of anti-dilution provisions on three other notes, reducing future share-count adjustments. This matters because Profusa has only $0.7M in cash and going-concern doubts, so these note terms directly affect how much dilution existing shareholders face if Ascent converts.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1496 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PFSA was trading at $1.74 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $1M. The 52-week trading range was $1.58 to $3,000.01. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.