Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 100

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 and our charter was amended on March 21, 2025 to reflect the extension of the business combination and
the removal of the NTA Requirement.

On April 2, 2025, the parties to the Merger Agreement
entered into an Amendment No. 5 to the Merger Agreement (“Amendment No. 5”) pursuant to which Section 9.01 of the Merger Agreement
was amended such that the reference to “March 22, 2025” shall be replaced with “June 22, 2025” by which the Company
must consummate a Business Combination.

On May 8, 2025, the Company entered into a non-redemption agreement
(the “Non-Redemption Agreement”) with I-Bankers Securities, Inc. and Dawson James Securities, Inc. (together, the “Investors”),
pursuant to which such Investors agreed that to the extent that redemptions in connection with the vote to approve the Business Combination
reduces the Company’s trust account balance below $1.25 million, the Investors would offer such redeeming shareholders an opportunity
to rescind the redemption of their shares and would instead purchase such shares. Such purchases would be structured in compliance with
the requirements of Rule 14e-5 under the Exchange Act or would otherwise not constitute a tender offer pursuant to
the Exchange Act. As of the Closing Date, the Company’s trust account balance was not below $1.25 million.

On June 9, 2025, the Company held a special meeting
of stockholders. At the meeting, the Company’s stockholders approved the Merger Agreement and the actions and transactions contemplated
thereby, including (i) adopt an amended and restated Certificate of Incorporation, to be effective upon closing of the Merger, (ii) approving
certain advisory proposals related to the amended and restated Certificate of Incorporation, (iii) approved the issuance of new shares
of the Company’s Common Stock as merger consideration, (iv) elected new directors, and (v) approved new employee incentive plans.
In connection with the meeting, the holders of 52,784 Public Shares properly exercised their right to redeem, with 5,295,527 shares of
Common Stock remaining outstanding after such redemptions.

On July 1, 2025, the Company filed an amendment
to its Certificate of Incorporation (the “Amendment”) to extend