Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1058

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1058
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 amended and restated certificate of incorporation provides that we renounce our interest in any corporate opportunity
offered to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director
or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable
for us to pursue.

Potential investors should
also be aware of the following other potential conflicts of interest:

●None
of our officers or directors is required to commit his or her full time to our affairs and, accordingly, may have conflicts of interest
in allocating his or her time among various business activities.

●Our
sponsor, executive officers and directors have agreed to waive their redemption rights with respect to their founder shares and any public
shares they hold in connection with the consummation of our initial business combination. Additionally, our sponsor, executive officers
and directors have agreed to waive their redemption rights with respect to their founder shares if we fail to consummate our initial
business combination within the combination period, although they will be entitled to liquidating distributions from the trust account
with respect to any public shares they hold. If we do not complete our initial business combination within such applicable time period,
the proceeds of the sale of the private placement warrants will be used to fund the redemption of our public shares, and the private
placement warrants will expire worthless. With certain limited exceptions, the founder shares will not be transferable, assignable or
salable by our initial stockholders until the earlier of (1) one year after the completion of our initial business combination and (2)
the date on which we consummate a liquidation, merger, capital stock exchange, reorganization, or other similar transaction after our
initial business combination that results in all of our stockholders having the right to exchange their shares of common stock for cash,
securities or other property. Notwithstanding the foregoing, if the last sale price of our common stock equals or exceeds $12.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within
any 30-trading day period commencing at least 150 days after our initial business combination, the founder shares will be released from
the lock-up. With certain limited exceptions, the private placement warrants and the securities underlying such warrants will not be
transferable, assignable or salable by our initial stockholders until 30 days after the completion of our initial business combination