Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 34

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 34
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 combination we consummate. Please see the section entitled
“Proposed Business - Stockholders May Not Have the Ability to Approve Our Initial Business Combination” for additional information.

If we seek stockholder approval of our initial
business combination, our sponsor, officers and directors have agreed to vote in favor of such initial business combination, regardless
of how our public stockholders vote.

Unlike many other blank check
companies in which the initial stockholders agree to vote their founder shares in accordance with the majority of the votes cast by the
public stockholders in connection with an initial business combination, our sponsor, officers and directors have agreed to vote their
founder shares, as well as any public shares purchased during or after our initial public offering, in favor of our initial business combination.
Our sponsor, officers and directors own 88.7% of our outstanding shares of common stock. As a result, if we seek stockholder approval
of our initial business combination, it is more likely that we will received the necessary stockholder approval than would be the case
if our initial stockholders and their permitted transferees agreed to vote their founder shares in accordance with the majority of the
votes cast by the public stockholders. In addition, in the event that our board of directors amends our bylaws to reduce the number of
shares required to be present at a meeting of our stockholders, we would need even fewer public shares to be voted in favor of our initial
business combination to have such transaction approved.

Accordingly, if we seek stockholder
approval of our initial business combination, it is more likely that the necessary stockholder approval will be received than would be
the case if our initial stockholders agreed to vote their shares in accordance with the majority of the votes cast by our public stockholders.

Your only opportunity to affect the investment
decision regarding a potential business combination may be limited to the exercise of your right to redeem your shares from us for cash,
unless we seek stockholder approval of the business combination.

At the time of your investment
in us, you may not be provided with an opportunity to evaluate the specific merits or risks of one or more target businesses. Since our
board of directors may complete a business combination without seeking stockholder approval, public stockholders may not have the right
or opportunity to vote on the business combination, unless we seek such stockholder vote. Accordingly, if we do not seek stockholder approval,
your only opportunity to affect the investment decision regarding a potential business combination may be limited to exercising