Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 333

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 333
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 to a Non -U.S. holder described below under the section entitled “ — Non -U .S. Holder — Taxation of Redemption Treated as a Distribution.” Whether a redemption of shares of NorthView Common Stock qualifies for sale treatment will depend largely on the total number of shares of NorthView Common Stock treated as held by the redeemed holder, and by certain entities or individuals related to the redeemed holder, before and after the redemption (including any stock constructively owned by the holder as a result of owning private placement warrants or public warrants and any NorthView Common Stock that a holder would directly or indirectly acquire pursuant to the Business Combination) relative to all of NorthView shares outstanding both before and after the redemption. The redemption of NorthView Common Stock generally will be treated as a sale of NorthView Common Stock (rather than as a corporate distribution) if the redemption (1) is “substantially disproportionate” with respect to the holder, (2) results in a “complete termination” of the holder’s interest in NorthView or (3) is “not essentially equivalent to a dividend” with respect to the holder. These tests are explained more fully below. In determining whether any of the foregoing tests result in a redemption qualifying for sale treatment, a holder takes into account not only shares of NorthView stock actually owned by the holder, but also shares of NorthView stock that are constructively owned by it under certain attribution rules set forth in the Code. A holder may constructively own, in addition to stock owned directly, stock owned by certain related individuals and entities in which the holder has an interest or that have an interest in such holder, as well as any stock that the holder has a right to acquire by exercise of an option, which would generally include NorthView Common Stock which could be acquired pursuant to the exercise of the private placement warrants or the public warrants. Moreover, any New Profusa Common Stock that a holder directly or constructively acquires pursuant to the Business Combination generally should be included in determining the U.S. federal income tax treatment of the redemption. In order to meet the substantially disproportionate test, the percentage of NorthView outstanding voting stock actually and constructively owned by the holder immediately following the redemption of shares of NorthView Common Stock must, among other requirements, be less than eighty percent (80%) of the percentage of NorthView outstanding voting stock actually and constructively owned by the holder immediately before the redemption (taking into account both redemptions by other holders of NorthView Common Stock and the New Profusa Common Stock to be