Profusa, Inc. (PFSA) · Oct 15, 2026 · New debt

Profusa convertible note adds cash but deepens dilution risk

$700K convertible note — $700,000 cash proceeds for $769,230.77 principal

Profusa secured $700K through a convertible note as it pursues the G3 diagnostics deal, but the financing carries dilution and repayment pressure.

Profusa is trying to shift from an early-stage biosensor developer toward a commercial diagnostics platform through its option to acquire G3 Vision Labs and related laboratories, whose 2025 revenue was estimated at roughly $111 million. The proposed transaction remains conditional on, among other things, securing at least $30 million of financing.

This is bridge financing, not the acquisition itself. Profusa received $700,000 in cash, but took on $769,230.77 of principal because the note was issued with original-issue discount. The note matures on October 15, 2027, or earlier if the G3 option closes. 〔0〕

Filing term	Detail
Cash proceeds	$700,000.00 (Item 1.01)
Principal issued	$769,230.77 (Item 1.01)
Stated interest	7% annually; 18% after an Event of Default (Maturity and Interest)
Initial conversion price	$4.28 per share (Conversion Price)
Floor price	$1.07 per share, subject to six-month downward resets (Floor Price)
Monthly amortization begins	January 1, 2027 (Amortization of Principal)
Mandatory repayment from future financings	33% of net proceeds (Mandatory Prepayments)

The financing materially worsens the company’s capital flexibility. The note is senior, secured by company and intellectual-property collateral, and restricts new debt, liens, asset sales, restricted payments and major transactions while more than $200,000 remains outstanding. 〔1〕

The equity upside for the lender creates meaningful dilution risk. Ascent can convert at $4.28 initially, but the note cannot be converted below a $1.07 floor that can reset lower every six months; monthly principal and interest may also be paid in shares if the equity conditions are met. The structure therefore gives Profusa cash today while leaving it exposed to future share issuance at potentially much lower prices. 〔2〕

Future fundraising is partly pre-committed to debt repayment. Any subsequent financing requires Profusa to use 33% of net proceeds to repay the note, while a lower-priced equity financing can reset the conversion price to that lower price. 〔3〕

Bottom line: This keeps Profusa funded while it works toward the G3 diagnostics transaction, but it is expensive, secured, and structurally dilutive capital rather than evidence that the acquisition has closed or that the operating pivot is working. The event advances the financing process, but worsens the terms of the story for existing shareholders and leaves the larger transaction dependent on the still-unmet $30 million funding requirement.

What to watch next

G3 option closing, subject to $30M financing

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
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FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

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Profusa convertible note adds cash but deepens dilution risk

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