Company: PFSA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001213900-25-021270
Chunk: 38

Company: Profusa, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 38
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<div align='center'>28

PROPOSAL 2 — THE TRUST AMENDMENT PROPOSAL</div>

Overview

The Company entered into that certain Investment Management Trust
Agreement, dated December 20, 2021 (the “Trust Agreement”), by and between the Company and Continental Stock Transfer &
Company (the “Trustee”) in connection with the Company’s IPO and a potential business combination.

The proposed amendment to the Trust Agreement, in the form set forth
in hereof (the “Trust Amendment”), would approve the amendment to the Trust Agreement to authorize the
Extension as contemplated by the Extension Proposal, subject to the discretion of our Board as to whether such amendment is necessary.

Reasons for the Proposal

The purpose of the Trust Amendment Proposal is to authorize the Extension
under the Trust Agreement, as the Extension is not contemplated under the Trust Agreement’s current terms.

We believe that given the Company’s expenditure of time, effort
and money on pursuing an initial business combination, circumstances warrant providing public stockholders an opportunity to consider
a business combination.

Vote Required for Approval

The affirmative vote of holders of 65% of the Company’s outstanding
shares of common stock, including the Founder Shares, is required to approve the Trust Amendment Proposal. If you do not vote, you abstain
from voting or you fail to instruct your broker or other nominee as to the voting of shares you beneficially own, your action will have
the same effect as a vote “AGAINST” the Trust Amendment Proposal. If you do not want the Trust Amendment Proposal approved,
you must abstain, not vote, or vote “AGAINST” the Trust Amendment.

Our Sponsor, the Representatives and all of our directors, executive
officers and their affiliates are expected to vote any common stock owned by them in favor of the Trust Amendment Proposal. On the record
date, our Sponsor, the Representatives, directors and officers of the Company and their affiliates beneficially owned and were entitled
to vote an aggregate of 5,193,750 shares of Common Stock, including 4,743,750 Founder Shares and 450,000 Representative Shares,
representing approximately 88.3% of the Company’s issued and outstanding shares of common stock. Our Sponsor and our directors,
executive officers and their affiliates do not intend to purchase shares of common stock in the open market or in privately negotiated
transactions in connection with the stockholder vote on the Trust Amendment.

Recommendation of the Board

Our Board unanimously recommends that our stockholders