Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 385

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 385
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IAL STATEMENTS Note 3 — Initial Public Offering(cont.)

The Company has agreed that as soon as
practicable, but in no event later than 15 business days after the closing of the initial Business Combination, the Company
will use its reasonable best efforts to file, and within 60 business days after the closing of the initial Business
Combination, to have declared effective, a registration statement relating to those shares of common stock, and to maintain a
current prospectus relating to such shares of common stock until the warrants expire or are redeemed. Notwithstanding the foregoing,
if a registration statement covering the shares of common stock issuable upon exercise of the warrants is not effective within the
above specified period following the consummation of the initial Business Combination, warrant holders may, until such time as there
is an effective registration statement and during any period when the Company shall have failed to maintain an effective
registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the
Securities Act of 1933, as amended, or the Securities Act, provided that such exemption is available. If that exemption,
or another exemption, is not available, holders will not be able to exercise their warrants on a cashless basis.

Redemption of Warrants

Once the warrants become exercisable,
the Company may redeem the outstanding warrants:

| ● | in whole and not in part; |

| ● | at a price of $0.01 per warrant; |

| ● | upon a minimum of 30 days’ prior written notice 
 of redemption (the “30-day redemption period”); |

| ● | if, and only if, the last sale price of the common stock equals                                                          
 or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior 
 to the date on which the Company sends the notice of redemption to the warrant holders.                                  |

If the Company calls the warrants
for redemption as described above, management will have the option to require all holders that wish to exercise warrants to do so on a
“cashless basis.” In determining whether to require all holders to exercise their warrants on a “cashless basis,”
management will consider, among other factors, the Company’s cash position, the number of warrants that are outstanding and the
dilutive effect on the stockholders of issuing the maximum number of shares of common stock issuable upon the exercise of the warrants.
In