NorthView Acquisition today filed an investor presentation highlighting its proposed merger with digital health company Profusa.
Based in Emeryville, CA, Profusa is a digital health company “that is pioneering the next generation of personalized medicine via the development of novel tissue-integrated biosensors. Profusa’s technology addresses the human body’s response to the presence of foreign material, enabling long-term monitoring of various biochemical parameters in real-time.”
The company has invested almost $100 million over the last decade developing its biosensor equipment and technology, according to the presentation.
Estimated cash proceeds at deal announcement were expected to consist of NorthView’s approximately $39 million of cash in trust assuming 80% redemptions or approximately $193 million with no redemptions.
However, redemptions on extension votes have pulled the trust down to about $9.3 million. Projections in the presentation show the SPAC may have only $5 million if trust if there are further redemptions ahead of the merger vote. A $1 million PIPE is in place to support the deal and potentially $4.4 million more from a joint venture the parties are exploring.
Northview raised $189.75 million in a December 2021 IPO. The SPAC is led by Co-Founder, Director and CEO Jack Stover, who was previously president and CEO of Interpace Biosciences. Read more.
