Company: PFSA
Filing Date: 2025-07-15
Form Type: DEF 14C
Source: 0001213900-25-063839
Chunk: 14

Company: Profusa, Inc.
Filing Date: 2025-07-15
Form: DEF 14C
Chunk 14
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 be, and should not be construed as, legal or tax advice to any stockholder. We once again urge you to consult with your own tax adviser to determine the particular tax consequences to you (including the application and effect of any U.S. federal, state, local or foreign income or other tax laws) of the receipt of cash in exchange for shares redeemed in connection with the ratification described herein.

<div align='center'>7

CORPORATE ACTION NO. 2

RATIFICATION OF CERTAIN CORPORATE ACTS</div>

Pursuant to the Company’s Charter, the permitted
scope of the Company’s corporate actions after June 22, 2025 may have been limited to commencing wind-down procedures, absent
an amendment to our Charter or the prior consummation of an initial business combination (the “Charter Limitation”). As a
result, the Company cannot establish that its actions in connection with the Extension and its previously announced merger agreement with
Profusa (the “Consummation Activities”), contemplated by that certain Merger Agreement and Plan of Reorganization, dated November
7, 2022 (as amended, the “Merger Agreement”), by and among the Company, NV Profusa Merger Sub Inc., a Delaware corporation
and a direct, wholly-owned, subsidiary of the Company, and Profusa occurred in compliance with the terms of the DGCL. The Board believes
that it is the best interests of the Company and its shareholders to cure any deficiencies that may have arisen from the Charter Limitation
in accordance with the framework provided by Section 204 of the DGCL, which allows the Company to affirm and ratify a “defective
corporate act,” as that term is defined in Section 204(h)(1) of the DGCL.

According to Section 204(h)(1) of the DGCL, a
“[d]efective corporate act” means an overissue, an election or appointment of directors that is void or voidable due to a
failure of authorization, or any act or transaction purportedly taken by or on behalf of the corporation that is, and at the time such
act or transaction was purportedly taken would have been, within the power of a corporation…, but is void or voidable due to a
failure of authorization.” A “Failure of authorization” is defined in Section 204(h)(2) to mean: “(i) the failure
to authorize or effect an act or transaction in compliance with (A)