Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 125

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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-Bankers and Dawson
James (and/or their designees) 569,250 warrants (which included 74,250 warrants issued pursuant to the full exercise of the over-allotment
option) exercisable at $11.50 per share (or an aggregate exercise price of $6,546,375) at the closing of the IPO. The Representative
Warrants issued are recognized as derivative liabilities in accordance with ASC 815-40 and recorded as liabilities at fair value each
reporting period (see Notes 1 and 8). The warrants may be exercised for cash or on a cashless basis, at the holder’s option, at
any time during the period commencing on the later of the first anniversary of the effective date of the registration statement of which
the IPO forms a part and the closing of the initial Business Combination and terminating on the fifth anniversary of such effectiveness
date. Notwithstanding anything to the contrary, I-Bankers and Dawson James have agreed that neither they nor their designees will
be permitted to exercise the warrants after the five year anniversary of the effective date of the registration statement of
which the IPO forms a part. The warrants and such shares purchased pursuant to the warrants have been deemed compensation by FINRA and
are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness of the registration
statement of which the IPO forms a part pursuant to FINRA Rule 5110I(1). Pursuant to FINRA Rule 5110I(1), these securities
will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition
of the securities by any person for a period of 180 days immediately following the effective date of the registration statement
of which the IPO forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately
following the effective date of the registration statement of which the IPO forms a part except to any underwriter and selected dealer
participating in the offering and their bona fide officers or partners. The warrants grant to holders demand and “piggy back”
rights for periods of five and seven years, respectively, from the effective date of the registration statement of which the IPO forms
a part with respect to the registration under the Securities Act of the shares issuable upon exercise of the warrants. The Company will
bear