Profusa Completes Business Combination
Profusa, Inc. is thrilled to announce a significant evolution in its journey as a digital health company. Following the closing of its business combination with NorthView Acquisition Corp. (NVAC), Profusa is stepping onto the Nasdaq platform, opening new doors for its innovative health technology.
Trading on Nasdaq
Beginning on the anticipated trading date, Profusa's common stock will officially trade under the ticker symbol "PFSA". This milestone represents a leap forward for the company, as it consolidates its position in the competitive digital health landscape.
What's Next for Profusa?
Profusa's vision has always been to utilize science and technology to improve the quality of life and manage chronic health conditions effectively. They have pioneered the development of tissue-integrating biosensors that are not only cost-effective but also capable of continuous biochemical monitoring. This cutting-edge approach empowers patients and healthcare providers with vital health data.
CEO's Vision
Ben Hwang, Ph.D., the company's Chairman and CEO, expressed his excitement: "This journey started over ten years ago, and today we reach a significant milestone by becoming a public company. We believe this status will allow us to escalate our goals in delivering transformative health solutions worldwide." His confidence underscores the potential impact of Profusa's technology in chronic disease management.
Funding for Future Growth
As part of the business combination, Profusa has successfully issued a secured convertible promissory note to an institutional investor, garnering $9 million. These funds will cover transaction costs while supporting the company’s ongoing development and operational requirements, with an option for a total of $20 million.
Advisors Supporting the Transition
Various reputable firms played crucial roles as advisors during this transition. A.G.P./Alliance Global Partners, I-Bankers Securities, and Dawson James Securities provided financial guidance, while Ellenoff Grossman & Schole LLP, ArentFox Schiff LLP, and Lucosky Brookman LLP were instrumental in legal matters.
About Profusa
Headquartered in a vibrant community, Profusa is committed to revolutionizing health monitoring through its innovative biosensor technology. Their products are designed to deliver reliable, real-time health data that clinicians can trust, promoting personalized healthcare experiences.
Innovations in Health Technology
With forward-thinking solutions like its injectable biosensors, Profusa aims to create a consistent health monitoring routine for patients with chronic conditions. The integration of AI and data analytics ensures that this health data is actionable, promoting better decision-making for both users and health professionals.
Frequently Asked Questions
What is Profusa's primary business focus?
Profusa specializes in developing tissue-integrated biosensors for continuous health monitoring, aimed at improving chronic disease management.
When will Profusa begin trading on Nasdaq?
Profusa's common stock is expected to start trading on Nasdaq under the ticker "PFSA" soon after the completion of its business combination.
How much capital did Profusa raise from the convertible note?
Profusa secured $9 million initially with an option for up to $20 million through a convertible promissory note.
Who are the key advisors for Profusa's business combination?
A.G.P./Alliance Global Partners, I-Bankers Securities, and Dawson James Securities acted as financial advisors, among other legal and financial advisors.
What technology does Profusa utilize for health monitoring?
Profusa employs advanced tissue-integrating sensors designed to transmit actionable health data continuously, prioritizing user-friendly applications and AI-driven insights.
