Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 194

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 194
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18,820,439 public shares redeemed in connection with the Extension represented approximately 77.9% of the total NorthView shares of common stock outstanding following NorthView’s IPO and approximately 99.2% of the public shares previously outstanding. Additionally, NorthView expects that the redemptions that occurred in 2025 will likely be offset by the NorthView Common Stock shares expected to be issued at the closing of the Business Combination. Following the Closing, NorthView’s only significant asset will be its ownership interest in the Profusa business and such ownership may not be sufficiently profitable or valuable to enable NorthView to pay any dividends on New Profusa Common Stock or satisfy NorthView’s other financial obligations. Following the Closing, NorthView will have no direct operations and no significant assets other than its ownership interest in the Profusa business. NorthView will depend on the Profusa business for distributions, loans and other payments to generate the funds necessary to meet its financial obligations, including its expenses as a publicly traded company and to pay any dividends with respect to New Profusa Common Stock. The earnings from, or other available assets of, the Profusa business may not be sufficient to pay dividends or make distributions or loans to enable NorthView to pay any dividends on New Profusa Common Stock or satisfy our other financial obligations. 86 This lack of diversification may subject us to numerous economic, competitive and regulatory risks, any or all of which may have a substantial adverse impact upon the particular industry in which we may operate subsequent to the Business Combination. Please see the sections titled “ NorthView’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources” and “ Profusa’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources” for more information. Following the Closing, New Profusa may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on New Profusa’s financial condition, results of operations and its stock price, which could cause you to lose some or all of your investment. Although NorthView has conducted due diligence on the Profusa business, NorthView cannot assure you that this diligence will surface all material issues that may be present in such business, that it would be possible to uncover all material issues through a customary amount of due diligence, or that factors outside of the Profusa business and outside of NorthView’s and Profusa’s control will not later arise. As a result of these factors, New Profusa