Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 401

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 401
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 Company has until March 22, 2025 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by March 22, 2025. If a Business Combination is not consummated by the required date, there will be an option to either extend the time available for us to consummate our initial business combination or execute a mandatory liquidation and subsequent dissolution. In connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014 -15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern,” management has determined that mandatory liquidation, and subsequent dissolution, should the Company be unable to complete a business combination, raises substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the issuance of these condensed consolidated financial statements. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after March 22, 2025. Off-Balance Sheet Financing Arrangements We did not have any off -balancesheet arrangements as of September 30, 2024. Contractual Obligations As of September 30, 2024 and December 31, 2023, we did not have any long -termdebt or capital or operating lease obligations. We entered into an administrative services agreement with our sponsor pursuant to which we pay for office space and secretarial and administrative services provided to members of our management team, in an amount of $5,000 per month. As of June 30, 2023, the Company and the sponsor terminated this agreement. For the three and nine months ended September 30, 2024, $0 and $0 had been incurred and billed relating to the administrative service fee. For the three and nine months ended September 30, 2023, $0 and $30,000 had been incurred and billed relating to the administrative service fee, respectively. As of September 30, 2024 and December 31, 2023, $50,000 relating to the administrative service fee was not paid and recorded as due to related party. NorthView previously engaged I -Bankersas an advisor to assist in holding meetings to discuss the potential business combination and the target business’ attributes, introduce NorthView to potential investors that are interested providing funding in connection with a Business Combination, assist NorthView