Company: PFSA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001213900-25-021270
Chunk: 32

Company: Profusa, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 32
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of their individual circumstances, such as investors subject to special tax rules (e.g., financial institutions, insurance companies,
mutual funds, pension plans, S corporations, broker-dealers, traders in securities that elect mark-to-market treatment, regulated investment
companies, real estate investment trusts, trusts and estates, partnerships and their partners, and tax-exempt organizations (including
private foundations)) and investors that hold common stock as part of a “straddle,” “hedge,” “conversion,”
“synthetic security,” “constructive ownership transaction,” “constructive sale,” or other integrated
transaction for United States federal income tax purposes, investors subject to the alternative minimum tax provisions of the Code,
U.S. Holders (as defined below) that have a functional currency other than the United States dollar, U.S. expatriates,
investors that actually or constructively own five percent or more of the common stock of the Company, and Non-U.S. Holders (as
defined below, and except as otherwise discussed below), all of whom may be subject to tax rules that differ materially from those summarized
below. In addition, this summary does not discuss any state, local, or non-United States tax considerations, any non-income tax
(such as gift or estate tax) considerations, alternative minimum tax or the Medicare tax. In addition, this summary is limited to investors
that hold our common stock as “capital assets” (generally, property held for investment) under the Code.

If a partnership (including an entity or arrangement treated as a
partnership for United States federal income tax purposes) holds our common stock, the tax treatment of a partner in such partnership
will generally depend upon the status of the partner, the activities of the partnership and certain determinations made at the partner
level. If you are a partner of a partnership holding our common stock, you are urged to consult your tax advisor regarding the tax consequences
of a redemption.

WE URGE HOLDERS OF OUR COMMON STOCK CONTEMPLATING EXERCISE OF THEIR REDEMPTION RIGHTS TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE UNITED STATES FEDERAL, STATE, LOCAL, AND FOREIGN INCOME AND OTHER TAX CONSEQUENCES THEREOF.

U.S. Federal Income Tax Considerations to U.S. Holders

This section is addressed to U.S. Holders of our common stock
that elect to have their common stock redeemed for cash. For purposes of this discussion, a “U.S. Holder” is a beneficial