Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 119

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 119
---
 limited by covenants of any existing and future outstanding indebtedness it or its subsidiaries incur. As a result, you may not receive any return on an investment in Profusa Common Stock unless you sell your shares of common stock for a price greater than that which you paid for it. 66 We may issue additional shares of its common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of Profusa Common Stock. Pursuant to the Equity Incentive Plan and the ESPP, following the completion of the proposed transactions, Profusa may issue an aggregate of approximately 15% of the fully diluted shares of Profusa Common Stock, which amount will be subject to increase from time to time. Profusa may also issue additional shares of Profusa Common Stock or other equity securities of equal or senior rank in the future in connection with, among other things, future acquisitions or repayment of outstanding indebtedness, without stockholder approval, in a number of circumstances. The issuance of additional shares or other equity securities of equal or senior rank would have the following effects:

| ● | existing stockholders’ proportionate ownership interest in Profusa will decrease; |

| ● | the amount of cash available per share, including for payment of dividends in the future, may decrease; |

| ● | the relative voting strength of each previously outstanding Profusa Common Stock may be diminished; and |

| ● | the market price of Profusa Common Stock may decline. |

Anti-takeover provisions in our amended and restated certificate of incorporation and under Delaware law could make an acquisition of Profusa, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove Profusa’s current management. Our amended and restated certificate of incorporation that will be in effect upon completion of the Business Combination will contain provisions that may delay or prevent an acquisition of Profusa or a change in its management. These provisions may make it more difficult for stockholders to replace or remove members of its board of directors. Because the board of directors is responsible for appointing the members of the management team, these provisions could in turn frustrate or prevent any attempt by its stockholders to replace or remove its current management. In addition, these provisions could limit the price that investors might be willing to pay in the future for shares of Profusa Common Stock. Among other things, these provisions include:

| ● | the limitation of the liability of, and the indemnification of, its directors and officers;