Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1040

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1040
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. Consequently, the contribution is $34,376 per month needed for the Company to continue to extend the Combination
Period monthly. On October 4, 2024, the Company made a deposit of $34,376 for the September extension contribution. In October 2024,
$595,439 was paid from the trust account to redeeming stockholders in connection with the extension that took place at the September
19, 2024 stockholders meeting. On December 13, 2024, the Company made a deposit of $68,752 for the October and November extension contributions.
On December 23, 2024, the Company made a deposit of $34,376 for the December extension contribution. On February 27, 2025, the Company
made a deposit of $49,376 for the January extension contribution and a portion ($15,000) of the February extension contribution. On March
7, 2025, the Company deposited the remainder of the February extension contribution of $19,376, plus interest.  

On March 18, 2025, the company commenced a special
meeting of stockholders, which was adjourned until March 21, 2025 without conducting any business. On March 21, 2025, the Company reconvened
the special meeting to approve an extension of time for the Company to consummate an initial business combination from March 22, 2025
to June 22, 2025. The meeting was adjourned until March 21, 2025, at which the stockholders approve the extension of the business combination
period until June 22, 2025. As a condition of the extension, the Company contributed $30,000 to the Trust Account, for the entire extension
period, on March 21, 2025.

Promissory
Note

On
January 10, 2024, the Company’s Board of Directors approved, and the Company amended, its Convertible Working Capital Promissory
Note (the “Note”) with the sponsor to increase the principal amount of the Note that could be drawn on to $1.5 million.
The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares
of Company common stock at a price of $2.22 per share at the election of the sponsor.

On
May 31, 2024, the Company’s Board of Directors approved, and