Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 29

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 that any recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s condensed
consolidated financial statements.

Note 3 – Initial Public Offering

Public Units

On December 22, 2021, the Company sold 18,975,000
Units, (which included 2,475,000 Units issued pursuant to the full exercise of the over-allotment option) at a purchase price of $10.00
per Unit. Each unit that the Company is offering has a price of $10.00 and consists of one share of common stock, one right, and one-half of
one redeemable warrant. Each right entitles the holder thereof to receive one-tenth (1/10) of one share of common stock upon the
consummation of an initial business combination. Each whole warrant entitles the holder thereof to purchase one share of common stock
at a price of $11.50 per share, subject to adjustment as described herein.

Public Warrants

Each whole warrant entitles the holder to purchase
one share of common stock at a price of $11.50 per share, subject to adjustment as discussed herein. In addition, if (x) the
Company issues additional shares of common stock or equity-linked securities for capital raising purposes in connection with the
closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per share of common stock
(with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such
issuance to the initial stockholders or their affiliates, without taking into account any founder shares held by such stockholders or
their affiliates, as applicable, prior to such issuance (the “Newly Issued Price”)), (y) the aggregate gross proceeds
from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for funding the initial
Business Combination (net of redemptions), and (z) the volume weighted average trading price of the common stock during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates the Business Combination (such price, the “Market
Value”) is below $9.20 per share, the exercise price shall be adjusted (to the nearest cent) to be equal to 115% of the