Fred Knechtel

About Fred Knechtel

Fred Knechtel is the Chief Financial Officer of NorthView Acquisition Corp. (NVAC) and a manager of NorthView Sponsor I, LLC, which holds NVAC founder shares . He has led finance and operations across life sciences, automotive, consumer products, and aerospace, with prior roles at Northrop Grumman, Stanley Black & Decker, DuPont, Remy International, Sims Metal Management, and GENEWIZ (Azenta) . NVAC’s officers and directors, including Knechtel, did not receive cash compensation for services to the SPAC; alignment is primarily through founder equity that would expire worthless absent a business combination . Following stockholder approval of the Profusa business combination, Knechtel articulated revenue ramp targets for the platform (EU tissue oxygen monitoring in 2Q 2026; US entry 1Q 2027; potential $200–$250M revenue by 2030), underscoring execution milestones in manufacturing and distribution coverage .

Past Roles

External Roles

• Not disclosed in NVAC or associated transaction filings .

Fixed Compensation

• NVAC disclosed that none of its officers or directors received cash compensation for services to the Company, indicating no base salary or cash bonus paid to Knechtel in his SPAC role .

Performance Compensation

• Equity Incentive Plan and Employee Stock Purchase Plan for New Profusa were approved by NVAC stockholders at the June 9, 2025 special meeting, enabling future equity-based compensation grants post‑closing; specific award metrics, weightings, and vesting schedules for Knechtel were not disclosed .

Equity Ownership & Alignment

• Warrants to purchase 17,404,250 shares were outstanding but not exercisable within 60 days of the special meeting record date (beneficial ownership table excludes these); potential dilution dynamics post‑combination are material .

Employment Terms

• No cash compensation to SPAC officers/directors; no employment agreement, severance, or change‑of‑control economics for Knechtel were disclosed in NVAC’s special meeting DEF 14A .
• Transaction‑related corporate actions: NVAC stockholders approved the merger agreement, new charter/bylaws, director slate, and equity plans on June 9, 2025, with Knechtel signing the 8‑K as CFO .

Performance & Track Record

• Manufacturing and supply achievements: completion of first sensor production run; contract manufacturing engaged for patches/readers and pens with capacities >2x requirements for 2026 targets .
• Market entry roadmap: EU tissue oxygen commercialization expected in early 2Q 2026; US entry 1Q 2027; expanding indications (e.g., glucose) and broader distribution coverage (~35% of EU population through intended channels) to support longer‑term revenue goals .
• CFO guidance: 2026 potential revenue $0.5–$2M; 2027 $9–$13M; 2030 $200–$250M across indications, reflecting execution milestones and distribution scale .

Risk Indicators & Red Flags

• Trading/listing risk: NVAC securities were suspended and delisted from Nasdaq on Dec 27, 2024; currently trade on OTC Pink, which reduces liquidity and complicates combination/rel listing conditions—this heightened execution and financing risk during the transition period .
• Founder equity incentive: sponsor/founder shares would expire worthless without completion of a business combination, intensifying closing incentives and potential investor dilution post‑transaction .
• Redemption/dilution mechanics: meeting recorded 52,784 share redemptions; broader redemption dynamics impact cash-to-close and post‑deal ownership .
• No disclosures found on pledging, hedging, clawbacks, severance, golden parachute, or tax gross‑ups for Knechtel in NVAC filings .

Compensation Structure Analysis

• SPAC-era compensation mix: fully at-risk equity via founder shares with no salary/bonus, creating high pay‑for‑deal completion incentives rather than operational performance incentives .
• Post‑combination equity plans: approval of equity incentive and ESPP frameworks suggests future emphasis on RSUs/PSUs/options tied to commercialization milestones; specific metrics and vesting criteria for Knechtel are not disclosed .

Say‑on‑Pay & Shareholder Feedback

• Not applicable to NVAC’s special meeting agendas; items focused on merger approval, governance documents, board elections, and equity plan adoption rather than executive compensation advisory votes .

Investment Implications

• Alignment: Knechtel’s economic exposure is primarily through sponsor/founder equity; this strongly aligns him with transaction completion and share value creation post‑deal, but also embeds dilution and SPAC incentive asymmetry risks for public holders .
• Execution: As PFSA CFO, his public guidance and manufacturing milestones frame the near‑term commercialization path; deliverables in EU CE marking, production scale, and distributor activation are key levers for hitting 2026–2027 targets .
• Governance/Listing: NVAC’s delisting increased transaction complexity; successful relisting and meeting initial exchange requirements post‑combination remain critical to broaden investor access and reduce cost of capital .
• Monitoring signals: Track future Form 4 filings for Knechtel (grant acceptances, sales), equity award disclosures in PFSA’s proxy/annual filings, and updates on distribution coverage and regulatory milestones to assess insider selling pressure, vesting cliffs, and incentive alignment evolution .