Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 218

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 218
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be entitled to receive funds from the trust account only upon the earliest to occur of: (i) the completion of our initial business combination,
(ii) the redemption of any public shares properly tendered in connection with a stockholder vote to amend our amended and restated certificate
of incorporation (A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our
initial business combination within the combination period or (B) with respect to any other provision relating to stockholders’
rights or pre-business combination activity and (iii) the redemption of all of our public shares if we are unable to complete our business
combination within the combination period, subject to applicable law and as further described herein. Stockholders who do not exercise
their rights to the funds in connection with an amendment to our certificate of incorporation would still have rights to the funds in
connection with a subsequent business combination. In no other circumstances will a public stockholder have any right or interest of any
kind in the trust account. Accordingly, to liquidate your investment, you may be forced to sell your public shares, rights, or warrants,
potentially at a loss.

30

If third parties bring claims against us, the
proceeds held in the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.10
per share.

Our placing of funds in the
trust account may not protect those funds from third-party claims against us. Although we will seek to have all vendors, service providers,
prospective target businesses or other entities with which we do business execute agreements with us waiving any right, title, interest
or claim of any kind in or to any monies held in the trust account for the benefit of our public stockholders, such parties may not execute
such agreements, or even if they execute such agreements they may not be prevented from bringing claims against the trust account, including,
but not limited to, fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the
enforceability of the waiver, in each case in order to gain advantage with respect to a claim against our assets, including the funds
held in the trust account. If any third party refuses to execute an agreement waiving such claims to the monies held in the trust account,
our management will perform an analysis of the alternatives available to it and will only enter into an agreement with a third party that
has