Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 88

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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holders (the “Meeting”). At the Meeting, the Company’s stockholders approved an amendment to the Company’s
amended and restated certificate of incorporation to extend the date by which the Company must consummate its initial Business Combination
to March 22, 2025. In connection with the approval of the extension amendment, holders of 50,556 shares of the Company’s
common stock exercised their right to redeem, with 5,881,269 shares of common stock remaining outstanding after the redemption; 687,519
shares of common stock remaining outstanding after the redemption are shares issued in connection with our initial public offering. Consequently,
the contribution is $34,376 per month needed for the Company to continue to extend the Combination Period monthly. On December 13,
2024, the Company made a deposit of $68,752 for the October and November extension contributions and on December 23, 2024, the Company
made a deposit of 34,376 for the December extension contribution. In October 2024, $595,439 was paid from the trust account to redeeming
stockholders in connection with the extension. 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 meeting and the stockholders approved the extension of the business combination period until June 22, 2025. In connection with the
approval of the extension amendment, holders of 532,958 shares of the Company’s common stock exercised their right to
redeem, for an aggregate redemption amount of approximately $6.5 million, with 5,348,311 shares of common stock remaining outstanding
after the redemption; 154,561 shares of common stock remaining outstanding after the redemption are shares issued in connection with
our initial public offering. As a condition of the extension, the Company contributed $30,000 to the Trust Account, for the entire extension
period, on March 21, 2025. Additionally, the stockholders at the meeting