Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 24

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
228  
     5,193,750 
  
    Basic and diluted net loss per share 
    $(0.19) 
    $(0.19) 
    $(0.14) 
    $(0.14)

Common Stock Subject to Possible Redemption

The Company’s common stock sold as part
of the Units in the IPO (“public common stock”) contain a redemption feature which allows for the redemption of such public
shares in connection with the Company’s liquidation, or if there is a stockholder vote or tender offer in connection with the Company’s
initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public common stock outside of permanent equity
as the redemption provisions are not solely within the control of the Company. The public common stock was issued with other freestanding
instruments (i.e., Public Warrants) and as such, the initial carrying value of public common stock classified as temporary equity was
the allocated proceeds determined in accordance with ASC 470-20.

As of March 31, 2025 and December 31, 2024, the
amount of public common stock reflected on the condensed consolidated balance sheets is reconciled in the following table:

    Contingently redeemable common stock, December 31, 2023 
    $9,252,208 
  
    Less: 

    Partial redemption 
     (1,683,800)
  
    Plus: 

    Accretion of redeemable common stock 
     768,980 
  
    Contingently redeemable common stock, December 31, 2024 
    $8,337,388 
  
    Less: 

    Partial redemption 
     (6,510,830)
  
    Plus: 

    Accretion of redeemable common stock 
     155,999 
  
    Contingently redeemable common stock, March 31, 2025 
    $1,982,557 

14

Recently Issued Accounting Standards

Standards Adopted

In November 2023, the FASB issued ASU 2023-07, Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker
(“CODM”), as well as the aggregate amount of other segment items included