Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 914

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 914
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 a 1.1- for-1 stock dividend of its common stock, resulting in an aggregate of 4,743,750
Founder Shares issued and outstanding. On December 22, 2021, the Company has also issued 450,000 shares (Representative’s
Shares) of common stock (which included 37,500 Representative Shares issued pursuant to the full exercise of the over-allotment
option) at the consummation of the IPO to I-Bankers and Dawson James (and/or their designees). As of December 31, 2024 and 2023,
there were 5,193,750 shares of common stock issued and outstanding, excluding 687,519 and 833,469 shares of common stock subject
to redemption, respectively.

Common
stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders. Unless specified in
the Company’s amended and restated certificate of incorporation or bylaws, or as required by applicable provisions of the DGCL
or applicable stock exchange rules, the affirmative vote of a majority of the Company’s common stock that are voted is required
to approve any such matter voted on by the stockholders. There is no cumulative voting with respect to the election of directors, with
the result that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors (prior
to consummation of the initial Business Combination). The Company’s stockholders are entitled to receive ratable dividends when,
as and if declared by the board of directors out of funds legally available therefor.

Note
8 – Fair Value Measurements

Fair
value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction
between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs
used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets
or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company’s financial
instruments are classified as either Level 1, Level 2 or Level 3. These tiers include:

●Level
1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●Level
2, defined as inputs