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

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 31
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initial stockholders paid an aggregate of $25,000, or approximately $0.005 per founder share, and, accordingly, you will experience immediate
and substantial dilution from the purchase of our common stock.

●Provisions
in our amended and restated certificate of incorporation and Delaware law may have the effect of discouraging lawsuits against our directors
and officers.

Risks Relating to Our Search For, Consummation
of, or Inability to Consummate, a Business Combination

We may not be able to complete the Business
Combination pursuant to the Merger Agreement. If we are unable to do so, we will incur substantial costs associated with withdrawing from
the transaction and may not be able to find additional sources of financing to cover those costs.

In connection with the Merger
Agreement, we have incurred substantial costs researching, planning and negotiating the transaction. These costs include, but are not
limited to, costs associated with securing sources of financing, costs associated with employing and retaining third-party advisors who
performed the financial, auditing and legal services required to complete the transaction, and the expenses generated by our officers,
executives, and employees in connection with the transaction. If, for whatever reason, the transactions contemplated by the Merger Agreement
fail to close, we will be responsible for these costs, but will have no source of revenue with which to pay them. We may need to obtain
additional sources of financing in order to meet our obligations, which we may not be able to secure on the same terms as our existing
financing or at all. If we are unable to secure new sources of financing and do not have sufficient funds to meet our obligations, we
will be forced to cease operations and liquidate the trust account.

13

As the number of special purpose acquisition
companies evaluating targets increases, attractive targets may become scarcer and there may be more competition for attractive target
businesses. This could increase the cost of our initial business combination and could even result in our inability to find a suitable
target business or to consummate an initial business combination.

In recent years, the number
of special purpose acquisition companies that have been formed has increased substantially. Many potential target businesses for blank
check companies have already entered into an initial business combination, and there are still many blank check companies preparing and
seeking target businesses for an initial public offering, as well as many such companies currently in registration. As a result, at times,
fewer attractive targets may be available, and it