NorthView Acquisition Corp SEC 10-Q Report

NorthView Acquisition Corp, a special purpose acquisition company (SPAC), has released its Form 10-Q report for the third quarter, detailing significant financial and operational developments. The company, which is in the process of merging with Profusa, Inc., a California-based biotechnology firm, has provided insights into its financial performance and strategic business activities during the reporting period.

Financial Highlights

• Loss from operations: $(583,581), reflecting an increase in formation and operating costs compared to the previous year.
• Net Loss: $(1,119,910), primarily driven by changes in fair value of financial instruments and increased operating expenses.
• Basic and diluted net loss per share, common stock subject to possible redemption: $(0.19), indicating a higher loss per share compared to the previous year.
• Basic and diluted net loss per share, common stock: $(0.19), consistent with the loss per share for common stock subject to possible redemption.

Business Highlights

• Business Combination Progress: NorthView Acquisition Corporation is in the process of consummating a business combination with Profusa, Inc., a California corporation. This merger will result in Profusa becoming a wholly-owned subsidiary of NorthView, and NorthView will change its name to Profusa, Inc.
• Extension of Business Combination Period: The company has extended the period to complete its business combination until June 22, 2025, following stockholder approval. This extension allows NorthView additional time to finalize the merger with Profusa.
• Stockholder Redemptions: During the reporting period, stockholders redeemed a significant number of shares, impacting the company's trust account balance. The company has taken steps to manage these redemptions, including entering into a non-redemption agreement with investors.
• Convertible Promissory Note: NorthView has a convertible promissory note with its sponsor, which has been amended to increase the principal amount available for drawdown. This note is crucial for financing transaction costs related to the business combination.
• Securities Purchase Agreement: The company entered into a securities purchase agreement with an institutional investor for the purchase of senior secured convertible promissory notes, which will provide additional funding for the business combination.
• Nasdaq Delisting and OTC Market Quotation: NorthView's securities were delisted from Nasdaq due to not completing a business combination within the required timeframe. The company's securities are now quoted on the OTC Market.
• Future Outlook: The company is focused on completing the business combination with Profusa by the extended deadline. The management is actively working on meeting the conditions necessary for the merger and securing the required approvals.

SEC Filing: NorthView Acquisition Corp [ NVAC ] - 10-Q - Jun. 13, 2025