| Schedule of the Debt Instruments and their Changes |
The
following table sets forth a summary of the debt instruments and their changes during the years ended December 31, 2025 and
2024 (in thousands):
| | |
Junior
Convertible
Notes | | |
Loans
Payable | | |
Tasly
Convertible
Note - Related
Party | | |
Convertible
Promissory
Note - Related
Party | | |
Senior
Notes | | |
Promissory
Notes | | |
PPP
Loan | | |
D&O
Insurance
Financing | |
| Balance at January 1, 2025 | |
$ | 18,419 | | |
$ | — | | |
$ | 2,234 | | |
$ | — | | |
$ | 25,268 | | |
$ | 910 | | |
$ | 1,376 | | |
$ | — | |
| Issuance of debt | |
| — | | |
| 11,000 | | |
| — | | |
| — | | |
| 1,350 | | |
| 100 | | |
| — | | |
| 657 | |
| Debt
repayments | |
| — | | |
| (1,920 | ) | |
| — | | |
| (50 | ) | |
| (555 | ) | |
| | | |
| — | | |
| (360 | ) |
| Change
in fair value | |
| — | | |
| 3,294 | | |
| 56 | | |
| (242 | ) | |
| — | | |
| — | | |
| — | | |
| — | |
| Conversion
of debt to equity | |
| (19,612 | ) | |
| (4,497 | ) | |
| — | | |
| — | | |
| (27,279 | ) | |
| — | | |
| — | | |
| — | |
| Debt assumed in connection with reverse recapitalization | |
| — | | |
| — | | |
| — | | |
| 2,162 | | |
| — | | |
| — | | |
| — | | |
| — | |
| Accrued
stated interest | |
| 1,193 | | |
| — | | |
| — | | |
| — | | |
| 1,258 | | |
| 39 | | |
| 14 | | |
| — | |
| Balance
at December 31, 2025 | |
$ | — | | |
$ | 7,877 | | |
$ | 2,290 | | |
$ | 1,870 | | |
$ | 42 | | |
$ | 1,049 | | |
$ | 1,390 | | |
$ | 297 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Less:
Current portion | |
$ | — | | |
$ | — | | |
$ | 2,290 | | |
$ | 1,870 | | |
$ | 42 | | |
$ | 1,049 | | |
$ | 1,390 | | |
$ | 297 | |
| Long
term debt | |
$ | — | | |
$ | 7,877 | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| | |
Junior
Convertible Notes | | |
Tasly
Convertible Note - Related Party | | |
Senior
Notes | | |
Promissory
Notes | | |
PPP
Loan | |
| Balance
at January 1, 2024 | |
$ | 16,316 | | |
$ | 1,714 | | |
$ | 20,155 | | |
$ | 849 | | |
$ | 1,362 | |
| Issuance of debt | |
| — | | |
| 16 | | |
| 3,210 | | |
| — | | |
| — | |
| Debt repayments | |
| — | | |
| — | | |
| (150 | ) | |
| — | | |
| — | |
| Change
in fair value | |
| — | | |
| 311 | | |
| — | | |
| — | | |
| — | |
| Stated
interest | |
| 2,057 | | |
| 193 | | |
| 2,053 | | |
| 61 | | |
| 14 | |
| Amortization
of debt discount and issuance costs | |
| 46 | | |
| — | | |
| — | | |
| — | | |
| — | |
| Balance
at December 31, 2024 | |
$ | 18,419 | | |
$ | 2,234 | | |
$ | 25,268 | | |
$ | 910 | | |
$ | 1,376 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Less:
Current portion | |
| 18,419 | | |
| 2,234 | | |
| 25,268 | | |
| 910 | | |
| 1,376 | |
| Long
term debt | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
|
| Schedule of Contractual Future Minimum Payments |
As
of December 31, 2025, the contractual future minimum payments for the Company’s outstanding borrowing arrangements were as
follows (in thousands):
| | |
2026 | | |
2027 | | |
Total | |
| Tasly
convertible note - related party | |
$ | 2,290 | | |
$ | — | | |
$ | 2,290 | |
| Convertible
promissory note - related party | |
| 1,870 | | |
| — | | |
| 1,870 | |
| Loans
payable | |
| — | | |
| 7,877 | | |
| 7,877 | |
| Senior
notes | |
| 42 | | |
| — | | |
| 42 | |
| Promissory
notes | |
| 1,049 | | |
| — | | |
| 1,049 | |
| PPP
loan | |
| 1,390 | | |
| — | | |
| 1,390 | |
| Total
contractual obligations | |
$ | 6,641 | | |
$ | 7,877 | | |
$ | 14,518 | |
|