Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 130

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 130
---
Representative’s Shares) of common stock (which included 37,500 Representative Shares issued pursuant to the full exercise
of the over-allotment option) at the consummation of the IPO to I-Bankers and Dawson James (and/or their designees). As of
June 30, 2025 and December 31, 2024, there were 5,193,750 shares of common stock issued and outstanding, excluding 101,777
and 687,519 shares of common stock subject to redemption, respectively.

Common stockholders of record are entitled to
one vote for each share held on all matters to be voted on by stockholders. Unless specified in the Company’s amended and restated
certificate of incorporation or bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange rules, the affirmative
vote of a majority of the Company’s common stock that are voted is required to approve any such matter voted on by the stockholders.
There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the
shares voted for the election of directors can elect all of the directors (prior to consummation of the initial Business Combination).
The Company’s stockholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of
funds legally available therefor.

Note 8 – Fair Value Measurements

Fair value is defined as the price that would
be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement
date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives
the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the
lowest priority to unobservable inputs (Level 3 measurements). The Company’s financial instruments are classified as either Level
1, Level 2 or Level 3. These tiers include:

●Level
1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●Level
2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices
for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

●Level
3, defined as unobservable inputs in which little or