Profusa Signs $100 Million Equity Credit Agreement to Launch Bitcoin Treasury Strategy

Odaily Planet Daily News - Profusa (NASDAQ: PFSA), a commercial-stage digital health company, announced today that it has reached a securities purchase agreement (equity credit agreement) with Ascent Partners Fund LLC ("Ascent") to raise up to $100 million through the issuance of common stock, and will use the net proceeds in full to purchase Bitcoin (which can be used for debt repayment), provided that the company's cash balance at the time of the equity sale is higher than $5 million. Under the terms of the agreement, Profusa has the right to sell common stock to Ascent at a price per share that is 97% of the lowest volume-weighted average price (VWAP) within 5 trading days after each sale. The upper limit for a single sale is $5 million or 100% of the average daily trading volume in the 5 trading days prior to the sale date (whichever is lower). If the company's cash balance is less than $5 million, the net proceeds will be used to make up for that amount first, and the remaining funds will be used to allocate Bitcoin as a core reserve asset. (Business Insider)