Techub News reports that the U.S. publicly listed company Profusa Inc. (NASDAQ: PFSA) is a commercial-stage digital health company. The company announced that it is initiating a Bitcoin treasury strategy by signing a securities purchase agreement 'ELOC' with Ascent Partners Fund LLC. Ascent will purchase up to $100,000,000 of the company's common stock. 100% of the net proceeds will be used to buy Bitcoin (which can be used to pay off debt), provided that the company's cash balance on the date of the put option exceeds $5,000,000.
According to the ELOC, the company will be able to list its common stock to Ascent at a price equal to 97% of the minimum volume-weighted average price per share after each such put option within 5 trading days. The maximum amount for each put option will be lower, at $5,000,000, as well as 100% of the average daily trading value of the common stock for the 5 trading days prior to such put option date.
