Profusa signs non-binding term sheet to acquire diagnostics company with ~$111M revenue; appoints new CEO

Profusa, Inc.

Non-binding term sheet to acquire a private diagnostics/toxicology testing company; 2025 net revenues estimated at ~$111M (unaudited).
Consideration: 19.99% of Profusa common stock plus non-voting convertible preferred stock; outstanding notes also exchanged for preferred.
Concurrent ~$7M convertible note financing expected (12-month term, 9% OID, 7% interest, 18% default rate).
Jack Stover appointed Executive Chairman and CEO; Ben Hwang becomes President and resigns from board; Liviu Goldenberg appointed independent director.
Transaction subject to due diligence, definitive agreements, regulatory and shareholder approvals; no assurance of completion.

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