Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 273

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1
Chunk 273
---
Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

As a result of closing of the Business Combination
on July 11, 2025, the risk factors previously disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2024 no longer apply. For risk factors relating to our business following the Business Combination, please refer to the
section “Risk Factors” in the Company’s Registration Statement on Form S-4 (File No. 333-269417) initially filed with
the SEC on January 1, 2023, as amended. Any of these factors could result in a significant or material adverse effect on the Company’s
results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial
may also impair the Company’s business or results of operations. We may disclose changes to such factors or disclose additional
factors from time to time in the Company’s future filings with the SEC.

Item 2. Unregistered Sales of Equity Securities and Use of
Proceeds.

The consummation of the Business Combination,
and the financing transactions consummated in connection therewith, resulted in gross proceeds of $10.27 million.

The funds from the Business Combination and the
related financing transactions were used for: (i) redemptions to public stockholders, (ii) cash to balance sheet, and (iii) payment of
fees and expenses. The direct and indirect fees and expenses incurred were approximately $3.4 million.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information.

During the period covered by this Quarterly Report,
none of the Company’s directors or executive officers have adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule
10b5-1 trading arrangement (each as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended).

33

Item 6. Exhibits

The following exhibits are filed as part of,
or incorporated by reference into, this Quarterly Report on Form 10-Q.

    No.
     
    Description
    of Exhibit
  
    31.1
     
    Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the