Why Is Profusa Stock Falling Monday?
Profusa Inc. (NASDAQ: PFSA ) stock fell in Monday premarket trading after the company announced leadership changes and signed a non-binding acquisition term sheet. PFSA has lost about 99.95% of its value over the past 12 months. Diagnostics Acquisition Term Sheet Profusa signed a non-binding term sheet to acquire a privately held, commercial-stage health diagnostics and toxicology testing company. The proposed combination would create a publicly traded diagnostics company with national CLIA-certified laboratories and recurring revenue from providers serving addiction treatment, pain management and behavioral health. The target’s 2025 net revenue is estimated at approximately $111 million, based on unaudited management information. Under the contemplated definitive agreement, the company would issue common shares equal to 19.99% of its then-issued and outstanding common shares. The rem...
Profusa Inc. (NASDAQ: PFSA ) stock fell in Monday premarket trading after the company announced leadership changes and signed a non-binding acquisition term sheet.
PFSA has lost about 99.95% of its value over the past 12 months.
Diagnostics Acquisition Term Sheet Profusa signed a non-binding term sheet to acquire a privately held, commercial-stage health diagnostics and toxicology testing company.
The proposed combination would create a publicly traded diagnostics company with national CLIA-certified laboratories and recurring revenue from providers serving addiction treatment, pain management and behavioral health.
The target’s 2025 net revenue is estimated at approximately $111 million, based on unaudited management information.
Under the contemplated definitive agreement, the company would issue common shares equal to 19.99% of its then-issued and outstanding common shares.
The remaining consideration would consist of non-voting convertible preferred stock, convertible into common shares following Profusa shareholder approval.
The company also expects to exchange its outstanding convertible notes and other obligations for preferred stock.
Read Also: Profusa Stock Soars On Deal Targeting Multi Billion Precision Diagnostics Space Financing And Leadership Subject to due diligence and documentation, the company expects to raise approximately $7 million at closing through convertible notes subordinated to existing bank debt.
The proposed notes would carry a 12-month term, a 9% original issue discount and a 7% annual interest rate, rising to 18% following a default.
Profusa appointed director Jack Stover as executive chairman and CEO, effective July 21.
Ben Hwang, Ph.D., transitioned from CEO and chairman to president.
Hwang resigned from the board on July 26 but remains president.
Liviu Goldenberg was appointed as an independent director to fill the board vacancy.
What Is Profusa? Profusa develops tissue-integrated biosensors that continuously transmit medical-grade biochemical data.
Its Lumee Oxygen Platform provides continuous tissue-oxygen monitoring, primarily targeting critical limb ischemia and wound-care applications.
Profusa Price Action PFSA Stock Price Activity: Profusa shares were down 18.56% at $18.56 during premarket trading on Monday, according to Pro data.
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