Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 741

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 741
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 and Affiliated Purchasers

There were no such repurchases
of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.  

ITEM 6. [RESERVED]

41

ITEM 7.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction
with our audited consolidated financial statements and the notes related thereto which are included in “Item 8. Consolidated Financial
Statements and Supplementary Data” of this Annual Report on Form 10-K. Certain information contained in the discussion and analysis
set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking
statements as a result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements,”
“Item 1A. Risk Factors” and elsewhere in this Annual Report on Form 10-K.

Overview

We
are a blank check company incorporated on April 19, 2021 as a Delaware corporation and formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses
(a “Business Combination”). We consummated our initial public offering on December 22, 2021 and have identified a target
company for our business combination. We intend to use the cash proceeds from our Public Offering and the Private Placement described
below as well as additional issuances, if any, of our capital stock, debt or a combination of cash, stock and debt to complete the Business
Combination.

We
expect to incur significant costs in the pursuit of our initial Business Combination. We cannot assure you that our plans to raise capital
or to complete our initial Business Combination will be successful.

Recent
Developments

Proposed
Business Combination

On
November 7, 2022, NorthView entered into a Merger Agreement and Plan of Reorganization (the “Merger Agreement”), by and among
NorthView, NV Profusa Merger Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of NorthView (“Merger Sub”),
and Profusa, Inc., a California corporation (“Profusa”).

The
Merger Agreement provides that, among other things, at the closing (the “Closing”) of the transactions contemplated by the
Merger Agreement, Mer