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Profusa Announces $100 Million Equity Line of Credit to Initiate Bitcoin Treasury Strategy
Globenewswireยท 2025-07-21 12:00
Core Viewpoint - Profusa, Inc. is initiating a Bitcoin treasury strategy through a Securities Purchase Agreement with Ascent Partners Fund LLC, aiming to purchase up to $100,000,000 of the Company's Common Stock, with all net proceeds allocated for Bitcoin purchases [1][6]. Group 1: Treasury Strategy - The Company will execute the strategy under an Equity Line of Credit (ELOC), allowing it to sell shares to Ascent at 97% of the lowest volume-weighted average price in the preceding five trading days [2][4]. - If the cash balance is below $5,000,000 at the time of a put, proceeds will first be used to reach that cash balance before purchasing Bitcoin [3][6]. - The ELOC is subject to customary closing conditions and will initially limit share issuance to 19.9% of the outstanding shares until shareholder approval is obtained [4]. Group 2: Financial Implications - The Company plans to issue cashless warrants to Ascent for 900,000 shares at an exercise price of $0.01 per share [5]. - The first Bitcoin purchases are anticipated to occur within the week, with holdings disclosed quarterly as part of standard financial reporting [7]. Group 3: Strategic Rationale - The CEO emphasized that holding Bitcoin is a strategic move to safeguard shareholder value amid monetary debasement, aligning with a digital future and potentially enhancing shareholder returns [6].