Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1099

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1099
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 effective issue price to be determined in good faith by the
board of directors and, in the case of any such issuance to the initial stockholders or their affiliates, without taking into account
any founder shares held by such stockholders or their affiliates, as applicable, prior to such issuance (the “Newly Issued Price”)),
(y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon,
available for funding the initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of
the common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the Business
Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price shall be adjusted (to the
nearest cent) to be equal to 115% of the 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.

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