Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 40

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 40
---
 resources. This inherent
competitive limitation gives others an advantage in pursuing the acquisition of certain target businesses. Furthermore, if we are obligated
to pay cash for the shares of common stock redeemed and, in the event we seek stockholder approval of our business combination, we make
purchases of our common stock, the resources available to us for our initial business combination will potentially be reduced. Any of
these obligations may place us at a competitive disadvantage in successfully negotiating a business combination. If we are unable to complete
our initial business combination, our public stockholders may receive only approximately $10.10 per share on the liquidation of our trust
account and our rights and warrants will expire worthless.

If the net proceeds of our initial public offering
and the sale of the private placement warrants not being held in the trust account are insufficient to allow us to operate for at least
the term of the combination period, we may be unable to complete our initial business combination.

The funds available to us
outside of the trust account may not be sufficient to allow us to operate for at least the term of the combination period, assuming that
our initial business combination is not completed during that time. We believe that the funds available to us outside of the trust account
will be sufficient to allow us to operate for at least the term of the combination period; however, we cannot assure you that our estimate
is accurate. Of the funds available to us, we could use a portion of the funds available to us to pay fees to consultants to assist us
with our search for a target business. We could also use a portion of the funds as a down payment or to fund a “no-shop” provision
(a provision in letters of intent designed to keep target businesses from “shopping” around for transactions with other companies
on terms more favorable to such target businesses) with respect to a particular proposed business combination, although we do not have
any current intention to do so. If we entered into a letter of intent where we paid for the right to receive exclusivity from a target
business and were subsequently required to forfeit such funds (whether as a result of our breach or otherwise), we might not have sufficient
funds to continue searching for, or conduct due diligence with respect to, a target business. If we are unable to complete our initial
business combination, our public stockholders may receive only approximately $10.10 per share on the liquidation of our trust account
and our rights and warrants will expire worthless.

If the net proceeds of our