Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 122

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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period. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs
are aligned with all agreements and budget.

Note 10 – Subsequent Events

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the condensed consolidated financial statements were issued. Based on
the Company’s review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the
condensed consolidated financial statements, other than as previously disclosed, and as described below.

On April 2, 2025, the parties to the Merger Agreement entered into
an Amendment No. 5 to the Merger Agreement (“Amendment No. 5”) pursuant to which Section 9.01 of the Merger Agreement is hereby
amended such that the reference to “March 22, 2025” shall be replaced with “June 22, 2025” by which the Company
must consummate a Business Combination.

On April 30, 2025, Marcum informed the Company
that Marcum resigned as the Company’s independent registered public accounting firm. Also on April 30, 2025, the Company, with
the approval of the Audit Committee of the Registrant’s Board of Directors, engaged CBIZ CPAs P.C. as the Company’s independent
registered public accounting firm.

On May 8, 2025, the Company entered into a non-redemption agreement
(the “Non-Redemption Agreement”) with I-Bankers Securities, Inc. and Dawson James Securities, Inc. (together, the “Investors”),
pursuant to which such Investors agreed that to the extent that redemptions in connection with the vote to approve the Business Combination
reduces the Company’s trust account balance below $1.25 million, the Investors would offer such redeeming shareholders an
opportunity to rescind the redemption of their shares and would instead purchase such shares. Such purchases would be structured in compliance
with the requirements of Rule 14e-5 under the Exchange Act or would otherwise not constitute a tender offer pursuant
to the Exchange Act.

On June 9, 2025, the Company held its a special
meeting of stockholders. At the meeting, the Company’s stockholders approved Merger Agreement and the actions and transactions contemplated
thereby, including (i) adopt an amended and restated Certificate of Incorpor