Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 186

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 186
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 determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial
business combination.

●Certain
of our executive officers and directors are now, and all of them may in the future become, affiliated with entities engaged in business
activities similar to those intended to be conducted by us following our initial business combination and, accordingly, may have conflicts
of interest in determining to which entity a particular business opportunity should be presented.

●Since
our initial stockholders, including our sponsor, executive officers and directors, will lose their entire investment in us if our initial
business combination is not completed, a conflict of interest may arise in determining whether a particular business combination target
is appropriate for our initial business combination.

●Because
each unit contains one right and one-half of one redeemable warrant, and only a whole warrant may be exercised, the units may be worth
less than units of other blank check companies.

●We
are not registering the shares of common stock issuable upon exercise of the warrants under the Securities Act or any state securities
laws at this time, and such registration may not be in place when an investor desires to exercise warrants, thus precluding such investor
from being able to exercise its warrants except on a cashless basis and potentially causing such warrants to expire worthless.

●Our
initial stockholders paid an aggregate of $25,000, or approximately $0.005 per founder share, and, accordingly, you will experience immediate
and substantial dilution from the purchase of our common stock.

●Provisions
in our amended and restated certificate of incorporation and Delaware law may have the effect of discouraging lawsuits against our directors
and officers.

Risks Relating to Our Search For, Consummation
of, or Inability to Consummate, a Business Combination

We may not be able to complete the Business
Combination pursuant to the Merger Agreement. If we are unable to do so, we will incur substantial costs associated with withdrawing from
the transaction and may not be able to find additional sources of financing to cover those costs.

In connection with the Merger
Agreement, we have incurred substantial costs researching, planning and negotiating the transaction. These costs include, but are not
limited to, costs associated with securing sources of financing, costs associated with employing and retaining third-party advisors who
performed the financial, auditing and legal services required to complete the transaction, and the expenses generated by our officers,
executives,