Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 211

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 211
---
 senior rank in the future in connection with, among other things, future acquisitions or repayment of outstanding indebtedness, without stockholder approval, in a number of circumstances. The issuance of additional shares or other equity securities of equal or senior rank would have the following effects: •existing stockholders’ proportionate ownership interest in New Profusa will decrease; •the amount of cash available per share, including for payment of dividends in the future, may decrease; •the relative voting strength of each previously outstanding New Profusa Common Stock may be diminished; and •the market price of New Profusa Common Stock may decline. Anti-takeover provisions in New Profusa’s amended and restated certificate of incorporation and under Delaware law could make an acquisition of New Profusa, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove New Profusa’s current management. New Profusa’s amended and restated certificate of incorporation that will be in effect upon completion of the Business Combination will contain provisions that may delay or prevent an acquisition of New Profusa or a change in its management. These provisions may make it more difficult for stockholders to replace or remove members of its board of directors. Because the board of directors is responsible for appointing the members of the management team, these provisions could in turn frustrate or prevent any attempt by its stockholders to replace or remove its current management. In addition, these provisions could limit the price that investors might be willing to pay in the future for shares of New Profusa Common Stock. Among other things, these provisions include: •the limitation of the liability of, and the indemnification of, its directors and officers; •a prohibition on actions by its stockholders except at an annual or Special Meeting of stockholders; 97 •a prohibition on actions by its stockholders by written consent; and •the ability of the board of directors to issue preferred stock without stockholder approval, which could be used to institute a “poison pill” that would work to dilute the stock ownership of a potential hostile acquirer, effectively preventing acquisitions that have not been approved by the board of directors. Moreover, because New Profusa is incorporated in Delaware, it is governed by the provisions of Section 203 of the Delaware General Corporation Law (the “DGCL”), which prohibits a person who owns 15% or more of its outstanding voting stock from merging or combining with New Profusa for a period of three years after the date of the transaction in which the person acquired 15