Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 409

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 409
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 intend to use the cash proceeds from our Public Offering and the Private Placement described below as well as additional issuances, if any, of our capital stock, debt or a combination of cash, stock and debt to complete the Business Combination. We expect to incur significant costs in the pursuit of our initial Business Combination. We cannot assure you that our plans to raise capital or to complete our initial Business Combination will be successful. Results of Operations Year ended December 31, 2024, compared to the year ended December 31, 2023 As of December31, 2024, we had not commenced any operations. All activity for the period from April 19, 2021 (inception) through December31, 2024 relates to our formation and the Initial Public Offering, and, subsequent to the IPO, identifying a target company for a Business Combination. We have neither engaged in any operations nor generated any operating revenues to date. We will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest. We will generate non -operatingincome in the form of interest income and unrealized gains from the cash and marketable securities held in the Trust Account. We expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. For the year ended December31, 2024, we had net loss of $8,711,619 which consisted of operating costs of $1,351,038, income tax provision of $80,513, change in fair value of our warrant liabilities of $539,531 and change in fair value of convertible note of $7,165,953, offset by interest income on securities held in the Trust Account of $425,416. For the year ended December31, 2023, we had net income of $1,161,910, which consisted of interest income on securities held in the Trust Account of $2,248,538 and a gain of $701,148 for the change in fair value of our warrant liabilities and change in fair value of convertible note of $177,697, offset by operating costs of $1,508,683, and income tax provision of $456,790. Liquidity and Going Concern As of December31, 2024, we had $16,204 in cash and a working capital deficit of $12,254,024. For the year ended December31, 2024, cash used in operating activities was