Company: PFSA
Filing Date: 2025-02-18
Form Type: PRE 14A
Source: 0001213900-25-014919
Chunk: 35

Company: Profusa, Inc.
Filing Date: 2025-02-18
Form: PRE 14A
Chunk 35
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 redeems its common stock of the Company and is not a U.S. Holder.

Redemption of Common Stock

The characterization for United States federal income tax purposes
of the redemption of a Non-U.S. Holder’s common stock generally will correspond to the United States federal income tax
characterization of such a redemption of a U.S. Holder’s common stock, as described under “U.S. Federal Income Tax
Considerations to U.S. Holders.”

Non-U.S. Holders of our common stock considering exercising their
redemption rights should consult their own tax advisors as to whether the redemption of their common stock of the Company will be treated
as a sale or as a distribution under the Code.

Gain or Loss on a Redemption of Common Stock Treated as a Sale

If the redemption qualifies as a sale of common stock, a Non-U.S. Holder
generally will not be subject to United States federal income or withholding tax in respect of gain recognized on a sale of its common
stock of the Company, unless:

| ● | the gain is effectively connected with the conduct of a trade or business by the Non-U.S. Holder within the United States           
 (and, under certain income tax treaties, is attributable to a United States permanent establishment or fixed base maintained by the 
 Non-U.S. Holder), in which case the Non-U.S. Holder will generally be subject to the same treatment as a U.S. Holder with           
 respect to the redemption, and a corporate Non-U.S. Holder may be subject to the branch profits tax at a 30% rate (or lower rate    
 as may be specified by an applicable income tax treaty);                                                                            |

| ● | the Non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable year in              
 which the redemption takes place and certain other conditions are met, in which case the Non-U.S. Holder will be subject to a 30% 
 tax on the individual’s net capital gain for the year; or                                                                         |

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Taxation of Distributions

If the redemption does not qualify as a sale of common stock, the
Non-U.S. Holder will be treated as receiving a distribution. In general, any distributions we make to a Non-U.S. Holder of
shares of our common stock, to the extent paid out of our current or accumulated earnings and profits (as determined under
United States federal income tax principles), will constitute dividends for U.S. federal income