Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 788

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 788
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 be required to register as an investment
company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.

Following
the closing of the Public Offering on December 22, 2021, an amount of $191,647,500 ($10.10 per Unit), excluding $741,228 that was wired
to the Company’s operating bank account on December 31, 2021 for working capital purposes, from the net proceeds of the sale of
the public units in the IPO and the sale of the Private Placement Warrants was placed in a Trust Account (“Trust Account”)
and invested in United States government treasury bills with a maturity of 185 days or less or in money market funds investing solely
in United States Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act as determined by the Company.
Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if
any, the proceeds from the IPO will not be released from the Trust Account until the earliest of (i) the completion of the Company’s
initial Business Combination, (ii) the redemption of any public shares properly tendered in connection with a stockholder vote to amend
the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation
to redeem 100% of the public shares if the Company does not complete the initial Business Combination within the extended period (or
any additional extension from the closing of our IPO if we extend the period of time to consummate a business combination) (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 the Company’s public shares if the Company is unable to complete the Business Combination within
the Combination Period, subject to applicable law. The proceeds deposited in the Trust Account could become subject to the claims of
the Company’s creditors, if any, which could have priority over the claims of the Company’s public stockholders.

F-7

The
Company will provide its public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
of the initial Business Combination either (i) in connection with a stockholder meeting called to approve the initial Business Combination
or (ii) by means of a tender offer. The decision