Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 30

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described in the section
“Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value
and the Newly Issued Price.

15

The warrants will become exercisable on the later
of 12 months from the closing of the IPO or 30 days after the completion of its initial Business Combination and will expire
five years after the completion of the Company’s initial Business Combination, at 5:00 p.m., New York City time, or earlier
upon redemption or liquidation.

The Company has agreed that as soon as practicable,
but in no event later than 15 business days after the closing of the initial Business Combination, the Company will use its reasonable
best efforts to file, and within 60 business days after the closing of the initial Business Combination, to have declared effective,
a registration statement relating to those shares of common stock, and to maintain a current prospectus relating to such shares of common
stock until the warrants expire or are redeemed. Notwithstanding the foregoing, if a registration statement covering the shares of common
stock issuable upon exercise of the warrants is not effective within the above specified period following the consummation of the initial
Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when
the Company shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the
exemption provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities Act, provided that such exemption
is available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants on a cashless
basis.

Redemption of Warrants

Once the warrants become exercisable, the Company
may redeem the outstanding warrants:

●in
whole and not in part;

●at
a price of $0.01 per warrant;

●upon
a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”);

●if,
and only if, the last sale price of the common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day
period ending on the third trading day prior to the date on which