Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 13

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 the “Investors”),
pursuant to which such Investors agreed that to the extent that redemptions in connection with the vote to approve the Business Combination
reduces the Company’s trust account balance below $1.25 million, the Investors would offer such redeeming shareholders an opportunity
to rescind the redemption of their shares and would instead purchase such shares. Such purchases would be structured in compliance with
the requirements of Rule 14e-5 under the Exchange Act or would otherwise not constitute a tender offer pursuant to
the Exchange Act. As of the Closing Date, the Company’s trust account balance was not below $1.25 million.

On June 9, 2025, the Company held a special meeting
of stockholders. At the meeting, the Company’s stockholders approved the Merger Agreement and the actions and transactions contemplated
thereby, including (i) adopt an amended and restated Certificate of Incorporation, to be effective upon closing of the Merger, (ii) approving
certain advisory proposals related to the amended and restated Certificate of Incorporation, (iii) approved the issuance of new shares
of the Company’s Common Stock as merger consideration, (iv) elected new directors, and (v) approved new employee incentive plans.
In connection with the meeting, the holders of 52,784 Public Shares properly exercised their right to redeem, with 5,295,527 shares of
Common Stock remaining outstanding after such redemptions.

On July 1, 2025, the Company filed an amendment
to its Certificate of Incorporation (the “Amendment”) to extend the date by which the Company must consummate a business
combination or, if it fails to do so, cease its operations and redeem or repurchase 100% of the shares of the Company’s common
stock issued in the Company’s initial public offering, from June 22, 2025 to August 22, 2025. Previously, on June 27, 2025, the
Company had filed a copy of the Amendment with a date that mistakenly referenced “July 22, 2025” rather than “August
22, 2025,” however such filing was corrected in connection with the filing of the Amendment on July 1, 2025. The Company’s
stockholders approved the Amendment by a supermajority of at least 65% via written consent on June 27, 2025.

The Company agreed to waive