Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 522

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 522
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 in connection with an intended initial Business Combination, the initial stockholders or an affiliate of the initial stockholders or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company would repay such loaned amounts out of the proceeds of the Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside the Trust Account. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. Up to $ 1,500,000of such loans may be convertible, at the option of the lender, into warrants at a price of $ 1.00per warrant of the post Business Combination entity. The warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period. At September 30, 2024 and December 31, 2023, the Company had no borrowings under the Working Capital Loans, other than the Note described in “Note 5 — Related Party Transactions — Convertible Promissory Note — Related Party”. Administrative Service Fee Commencing on the effective date of the IPO, the Company began paying its Sponsor a total of $ 5,000per month for office space, utilities, secretarial support and other administrative and consulting services. As of June 30, 2023, the Company and the Sponsor terminated this agreement. For the three and nine months ended September 30, 2024, $ 0had been incurred and billed relating to the administrative service fee, respectively. For the three and nine months ended September 30, 2023, $ 0and $ 30,000, respectively, had been incurred and billed relating to the administrative service fee. As of September 30, 2024 and December 31, 2023, $ 50,000relating to the administrative service fee was not paid and recorded as due to related party. Advances from Profusa During the nine months ending September 30, 2024, Profusa agreed to advance funds to the Company to pay for operating expenses. As of September 30, 2024, there was $ 320,717owed to Profusa, which is due upon demand or at the completion