Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 403

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 403
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 sponsor, management team and directors have deep experience, contacts and relationships in the healthcare sector. The initial business combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value of the assets held in the Trust Account (excluding taxes payable on the interest earned on the Trust Account) at the time of the signing a definitive agreement in connection with the initial business combination. However, we will only complete a business combination if the post -transactioncompany owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that we will be able to successfully effect a business combination. Financial Position We had funds available in the Trust Account for a business combination as of December31, 2024, of approximately $8.3 million. On March21, 2025, the Company’s stockholders elected to redeem 532,958 public shares of Common Stock in connection with the extension of our business combination period for up to three months, from March22, 2025, ultimately until June22, 2025. In connection with this extension, the Company is required to contribute $30,000 to the Trust Account, which occurred on March21, 2025. Following the extension, we have available funds in the Trust Account of approximately $1.9million as of March21, 2025. This amount includes $2.0million of the business combination marketing fee payable to I -Bankersand Dawson James, payable in cash upon the Closing of our business combination with Profusa. As the Business Combination Marketing Fee exceeds the funds available in the Trust Account, the Company is expected to use proceeds from the PIPE Subscription Agreement to pay a portion of the business combination marketing fee at the closing of the business combination. Lack of Business Diversification For an indefinite period of time after the completion of our initial business combination, the prospects for our success may depend entirely on the future performance of a single business. Unlike other entities that have the resources to complete business combinations with multiple entities in one or several industries, it is probable that we will not have the resources to diversify our operations and mitigate the risks of being in a single line of business. By completing our initial business combination with only a single entity, our lack of diversification may: •subject us to negative economic, competitive and regulatory developments, any or