Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 373

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 373
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utive effect on the stockholders of issuing the maximum number of shares of common stock issuable upon the exercise of the warrants.
In such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of common stock equal to
the quotient obtained by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by
the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair
market value. The “fair market value” shall mean the average reported last sale price of the common stock for the 10 trading
days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants.

Note 4 — Private Placement

The Company’s Sponsor, I-Bankers
and Dawson James have purchased an aggregate of 7,347,500 Private Placement Warrants (which included 697,500 Private Placement Warrants
issued pursuant to the full exercise of the over-allotment option) at a price of $1.00 per warrant ($7,347,500 in the aggregate) in a
private placement that closed simultaneously with the closing of the IPO. Of such amount, 5,162,500 Private Placement Warrants were
purchased by the Sponsor and 2,185,000 Private Placement Warrants were purchased by I-Bankers and Dawson James.

The Private Placement Warrants
are identical to the warrants included in the units sold in the IPO, except that the Private Placement Warrants: (i) will not be
redeemable by the Company and (ii) may be exercised for cash or on a cashless basis, in each case so long as they are held by the
initial purchasers or any of their permitted transferees. If the Private Placement Warrants are held by holders other than the initial
purchasers or any of their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by
the holders on the same basis as the warrants included in the Units being sold in the IPO.

Note 5 — Related Party Transactions

Founder Shares

In April 2021, the Sponsor
paid $25,000, or approximately $0.005 per share, to cover certain of the offering costs in exchange for an aggregate of 5,175,000 shares
of common stock, par value $0.0001 per share (the “Founder Shares