Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 97

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation
of the initial Business Combination, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding
public shares, subject to the limitations described herein. The per share amount the Company distributed to investors who properly redeemed
their shares was not reduced by the fee payable to I-Bankers and Dawson James pursuant to the Business Combination Marketing Agreement
(see Note 6).

On March 10, 2023, the Company held a vote to
amend its amended and restated certificate of incorporation to extend the date by which the Company must consummate a Business Combination
from March 22, 2023 to December 22, 2023 (the “First Extension Meeting”).

On December 21, 2023, the Company held a special
meeting of stockholders to vote on extending the Combination Period. As a result, the Company extended the Combination Period from December
22, 2023 to March 22, 2024. In connection with the extension, 140,663 shares of the Company’s common stock were redeemed, with
6,027,219 shares of Common Stock remaining outstanding after the Redemption; 833,469 shares of Common Stock remaining outstanding after
the Redemption are shares issued in connection with our IPO (the “Public Shares”). In January 2024, $1,565,078 was paid from
the Trust Account to redeeming stockholders in connection with the extension.

On January 2, 2024, the Company and Continental
Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment Management Trust Agreement, dated December
20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the Company, to (i) hold the funds in the Company’s
trust account uninvested or (ii) hold the funds in an interest-bearing bank demand deposit account.

On January 10, 2024, the Company’s Board
of Directors approved, and the Company amended, its Convertible Working Capital Promissory Note (the “Note”) with the sponsor
to increase the principal amount of the Note that could be drawn on to $1.5 million. The amended and restated Note also allows for
the conversion of the outstanding principal balance of the Note to be repaid in shares of