Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 607

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 607
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 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.

F-15

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 the Company sends the notice of redemption to the warrant holders.

If
the Company calls the warrants for redemption as described above, management will have the option to require all holders that wish to
exercise warrants to do so on a “cashless basis.” In determining whether to require all holders to exercise their warrants
on a “cashless basis