Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 48

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 charges in the future as a result of these indemnification obligations.

27

Note 8 — Warrants

The Company has four groups of warrants that total 17,536,750 which
is made up of: 9,487,500 Public Warrants, 7,347,500 Private Placement Warrants, 569,250 Representative’s Warrants, and 132,500 HCW
Warrants.

Northview Warrants

As part of the IPO, Northview issued the Public Warrants to third-party
investors, where each whole warrant entitled the holder to purchase one share of the Company’s Common Stock at an exercise price
of $11.50 per share. Simultaneously with the closing of the IPO, Northview completed the private sale of 7,347,500 Private Placement warrants
where each warrant allows the holder to purchase one share of the Company’s Common Stock at $11.50 per share.  Additionally,
Northview granted underwriters 569,250 warrants exercisable at $11.50 per share (or an aggregate exercise price of $6,546,375) at
the closing of the IPO.  

The Public Warrants became exercisable 30 days after the consummation
of the Business Combination

The Private Placement Warrants and Representative’s Warrants
are non-redeemable in certain circumstances so long as they are held by the initial purchasers or their permitted transferees. The Private
Placement and Representative’s Warrants may also be exercised by the initial purchasers or their permitted transferees for cash
or on a cashless basis, but are otherwise similar to the Public Warrants underlying the Units sold in the IPO, as the Private Placement
Warrants and Representative Share Warrants, along with the common stock issuable upon the exercise of the Private Placement Warrants and
Representative Share Warrants also became transferable, assignable, or saleable 30 days after the completion of the Business Combination,
which was during this period ended September 30, 2025.

The Public Warrants were initially classified as a derivative liability
instrument. Upon the closing of the Business Combination, the Public Warrants in accordance with the guidance contained in ASC 815 are
no longer precluded from equity classification as they meet the “own equity” scope exception in ASC 815-10-15-74(a), allowing
these financial instruments to be classified as equity with no subsequent remeasurement. The Public Warrants are indexed to the Company’s