Company: PFSA
Filing Date: 2025-09-10
Form Type: PRE 14A
Source: 0001213900-25-086308
Chunk: 15

Company: Profusa, Inc.
Filing Date: 2025-09-10
Form: PRE 14A
Chunk 15
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 has determined that the current authorized share limit of 100,000,000shares is insufficient to support its capital structure and growth plans. Without an increase, the Company’s flexibility to raise capital, consummate strategic transactions, or issue equity -basedincentives would be severely constrained. Potential Effects of Non-Approval of this Proposal If the Proposal to Increase Authorized Shares is not approved, the Company will continue to have 100,000,000 authorized shares of Common Stock. In that event, the Company may be unable to satisfy its contractual obligations to issue shares upon conversion of the PIPE Convertible Notes, exercise of the Commitment Warrants, or drawdowns under the ELOC in excess of the current share reserve, which could trigger default provisions, monetary penalties, or forced cash settlements. Our ability to raise additional capital through equity or equity -linkedsecurities would be severely limited, potentially impairing our liquidity, growth, and commercialization strategies. We may be forced to forego or delay strategic acquisitions or partnerships that require equity consideration, and we would have diminished flexibility to grant equity -basedcompensation necessary to attract and retain key employees and directors. Required Vote and Recommendation In accordance with our certificate of incorporation, as amended, and Delaware law, approval and adoption of this Proposal requires the affirmative vote of a majority of the total votes cast, in person or by proxy. As a result, abstentions and broker non -votes, if any, will not affect the outcome of the vote on this proposal. THE BOARD RECOMMENDS A VOTE “FOR” THE PROPOSAL TO INCREASE AUTHORIZED SHARES. 9

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth information, as of September [•], 2025, regarding beneficial ownership of our common stock by: •each of our directors; •each of our named executive officers; •all directors and executive officers as a group; and •each person, or group of affiliated persons, known by us to beneficially own more than five percent of our shares of common stock. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options, warrants and certain other derivative securities that are currently exercisable or will become exercisable within 60 days. The percentage of beneficial ownership is based on [•] shares of Common Stock issued and outstanding on the Record Date