Profusa, a U.S.-based biotechnology company specializing in medical sensors, has announced the signing of a $100 million credit line agreement with investment fund Ascent Partners. The funds will be used to purchase Bitcoin and establish a crypto reserve on the company’s balance sheet.

Under the agreement, Profusa gains access to capital by issuing shares to Ascent at a 3% discount to market price. Each drawdown is limited to either $5 million or the average trading volume over the previous five days, whichever is lower. The company is required to maintain at least $5 million in cash at all times, with the remaining funds strictly allocated to acquiring BTC.

The deal includes specific restrictions. The total share issuance cannot exceed 19.9% of the current number of shares without shareholder approval. In addition, Ascent receives cashless warrants to acquire 900,000 shares at a nominal price of $0.01 per share. These warrants allow future share purchases at the fixed price without upfront payment.

Profusa plans to begin purchasing Bitcoin within the current quarter. The company stated that information on its crypto reserves will be included in its regular financial disclosures. The initiative is framed as part of a long-term strategy to hedge against currency risk and inflation.

The use of external financing enables Profusa to avoid deploying its own working capital. This provides greater flexibility in managing the balance sheet and mitigates the impact of cryptocurrency market volatility on the company’s core operations.

While similar steps have been taken primarily by technology and investment firms, the entry of a biotech company into this space highlights the growing interest in digital assets across a wider range of industries.

💸💲🧠 Get up to 5020 USDT as a welcome bonus and an additional 1025 USDT by using this referral on  Bybit