Digital health company Profusa and NorthView Acquisition announced a definitive business combination agreement.
The press release announcing the deal contains some unusual phrasing that reflects the realities of the current environment SPAC sponsors 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.”
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 body’s response to the presence of foreign material, enabling long-term monitoring of various biochemical parameters in real-time.”
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.
