NorthView Acquisition Files Proxy on $416M Profusa Deal

NorthView Acquisition today filed a proxy outlining terms of its proposed merger with digital health company Profusa. The proxy is preliminary and a shareholder meeting date has not been publicized.

Estimated cash proceeds are expected to consist of NorthView's approximately $39 million of cash in trust assuming 80% redemptions or approximately $193 million with no redemptions.

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,” the press release states. “Profusa's technology addresses the human 's response to the presence of foreign material, enabling long-term monitoring of various biochemical parameters in real-time.”

The press release announcing the deal last November contained some unusual phrasing that reflects the realities of the current environment face with shareholders: “The pro forma equity valuation of the combined company is expected to be approximately $264 million assuming 80% redemptions or approximately $416 million assuming no redemptions.”

Northview raised $189.75 million in a December 2021 . The SPAC is led by Co-Founder, Director and CEO Jack Stover, who was previously president and CEO of Interpace Biosciences. Read more.

Source: NorthView Acquisition Files Proxy on 6M Profusa Deal