Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1187

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 1187
---
,000 units to cover over-allotments,
if any. On December 22, 2021, the over-allotment was fully exercised.

The
underwriters received a cash underwriting discount of approximately 1.82% of the gross proceeds of the IPO, or $3,450,000.

Business
Combination Marketing Agreement

Under a Business Combination marketing agreement, the Company engaged
I-Bankers and Dawson James as advisors in connection with the Business Combination to assist the Company in holding meetings with the
stockholders to discuss the potential Business Combination and the target business’s attributes, introduce the Company to potential
investors that are interested in purchasing the Company’s securities in connection with the potential Business Combination, assist
the Company in obtaining stockholder approval for the Business Combination and assist the Company with its press releases and public filings
in connection with the Business Combination. The Company was obligated to pay I-Bankers and Dawson James a cash fee for such marketing
services upon the consummation of the initial Business Combination in an amount of 3.68% of the gross proceeds of the IPO, or $6,986,250.
The agreement was amended on November 7, 2022 to allow for the 3.68% business combination fee to be paid as (a) 27.5% cash and (b) 72.5%
to be rolled into equity at closing. Subsequently, on January 19, 2025, the agreement was modified by the parties such that the Company
will be required to pay $2,000,000, payable in cash, if a business combination is consummated.

F-17

Representative’s
Shares

On
December 22, 2021, the Company issued 450,000 shares (Representative Shares) of common stock (which included 37,500 Representative
Shares issued pursuant to the full exercise of the over-allotment option) at the consummation of the IPO to I-Bankers and Dawson
James (and/or their designees). I-Bankers and Dawson James (and/or their designees) have agreed not to transfer, assign or sell
any such shares until the completion of the initial Business Combination. In addition, I-Bankers and Dawson James (and/or their
designees) have agreed (i) to waive their redemption rights with respect to such shares in connection with the completion of the
initial Business Combination and (