NorthView Acquisition Corp. Reports $1.12 Million Net Loss in Q1 2025 Amid Increased Operating Costs

NorthView Acquisition Corp. reported a net loss of $1.12 million for the first quarter of 2025, a significant increase from the $820,277 loss recorded in the same period of the previous year. The company's operating costs rose to $583,581, compared to $470,841 in the prior year, reflecting increased expenses associated with its ongoing business activities. Interest income from cash held in the Trust Account decreased to $79,925 from $116,664 year-over-year, contributing to the overall loss. The basic and diluted net loss per share for the quarter was $(0.19), compared to $(0.14) in the first quarter of 2024.

In terms of financial position, NorthView's total assets decreased to $1.98 million as of March 31, 2025, down from $8.39 million at the end of 2024. This decline was primarily due to a significant reduction in cash held in the Trust Account, which fell to $1.92 million from $8.33 million. The company also reported a working capital deficit of $13.19 million, highlighting ongoing liquidity challenges. The total liabilities increased to $14.30 million, up from $13.01 million, driven by higher accounts payable and accrued expenses.

Strategically, NorthView is in the process of completing a merger with Profusa, Inc., which is expected to be finalized by June 22, 2025. The merger agreement includes provisions for potential earnout shares based on future performance milestones, which have been adjusted in recent amendments to the agreement. The company has also entered into a securities purchase agreement with an institutional investor for up to $22.22 million in senior secured convertible promissory notes, aimed at supporting the merger and associated costs.

Operationally, NorthView has faced challenges with stockholder redemptions, with 532,958 shares redeemed in connection with the recent extension of the business combination period. This has resulted in a reduced number of outstanding shares, now totaling 5,348,311. The company has also been subject to an excise tax liability of approximately $1.95 million related to stock redemptions, which has further impacted its financial standing. Looking ahead, NorthView's ability to complete the merger and improve its financial health remains uncertain, with management expressing concerns about the company's ability to continue as a going concern if the business combination is not consummated by the deadline.