Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 96

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 2021, an amount of $191,647,500 ($10.10 per Unit), excluding $741,228 that was wired to the Company’s operating bank account
on December 31, 2021 for working capital purposes, from the net proceeds of the sale of the public units in the IPO and the sale of the
Private Placement Warrants was placed in a Trust Account (“Trust Account”) and invested in United States government treasury
bills with a maturity of 185 days or less or in money market funds investing solely in United States Treasuries and meeting certain conditions
under Rule 2a-7 under the Investment Company Act as determined by the Company. Except with respect to interest earned on the funds held
in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the IPO will not be released from
the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of
any public shares properly tendered in connection with a stockholder vote to amend the Company’s amended and restated certificate
of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company
does not complete the initial Business Combination within the extended period (or any additional extension from the closing of our IPO
if we extend the period of time to consummate a business combination) (the “Combination Period”), or (B) with respect to
any other provision relating to stockholders’ rights or pre-Business Combination activity, and (iii) the redemption of all of the
Company’s public shares if the Company is unable to complete the Business Combination within the Combination Period, subject to
applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any,
which could have priority over the claims of the Company’s public stockholders.

5

The Company provided its public stockholders with
the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination in connection
with a stockholder meeting called to approve the initial Business Combination. The decision as to whether the Company will seek stockholder
approval of a proposed initial Business Combination or conduct a tender offer was made by the Company, solely in its discretion. The stockholders
were entitled to redeem all or a portion of their public shares upon the completion of the initial Business Combination at a per-share