Profusa, Inc. Appoints Jack Stover as Executive Chairman & CEO; Signs Term Sheet

What Happened

• Profusa, Inc. (PFSA) filed an 8‑K reporting leadership changes and disclosure of a press release tied to a potential transaction. Jack Stover, already a company director, was appointed Executive Chairman of the Board and Chief Executive Officer, effective July 21, 2026 (appointment announced July 20, 2026). The company issued a press release on July 27, 2026 announcing the signing of a non‑binding term sheet related to the transaction referenced in the filing.
• Ben Hwang, PhD — the former CEO and Chairman — was appointed President and Director effective July 21, 2026. The filing states Hwang will focus on expense management, operations, and raising near‑term working capital to support operations through closing of the referred transaction.

Key Details

• Appointment effective dates: Jack Stover effective July 21, 2026 (announced July 20, 2026); Ben Hwang effective July 21, 2026.
• Press release dated July 27, 2026 announced the signing of a non‑binding term sheet for the described transaction.
• Stover’s primary responsibility: closing the transaction and leading the combined public diagnostics platform.
• Hwang’s primary responsibilities: efficient expense management, operational oversight, and raising near‑term working capital through closing.

Why It Matters

• Leadership change: appointing an experienced executive (Stover) as Executive Chairman and CEO signals a shift in management focus toward closing a strategic transaction and integrating a combined diagnostics platform, which could materially affect company direction and strategy.
• Near‑term liquidity focus: Hwang’s role in raising working capital highlights the company’s immediate financing and operational priorities ahead of the transaction closing.
• Transaction stage: the term sheet is non‑binding and the press release was filed with the 8‑K, indicating active but preliminary progress on a potential deal; investors should monitor further disclosures for definitive agreements, financing details, or material impacts on operations.