Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 224

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 224
---
 not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders
want us to hold an annual meeting prior to our consummation of a business combination, they may attempt to force us to hold one by submitting
an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

33

We did not register the shares of common stock
issuable upon exercise of the warrants under the Securities Act or any state securities laws at the time of our IPO, and such registration
may not be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its warrants
except on a cashless basis and potentially causing such warrants to expire worthless.

We did not register the shares
of common stock issuable upon exercise of the warrants under the Securities Act or any state securities laws at the time of our IPO. However,
under the terms of the warrant agreement, we have agreed, as soon as practicable, but in no event later than 15 business days after the
closing of our initial business combination, we will use our reasonable best efforts to file, and within 60 business days after the closing
of our initial business combination, to have declared effective, a registration statement relating to the common stock issuable upon exercise
of the warrants, and to maintain a current prospectus relating to such shares of common stock until the expiration of the warrants in
accordance with the provisions of the warrant agreement. We cannot assure you that we will be able to do so if, for example, any facts
or events arise which represent a fundamental change in the information set forth in the registration statement or prospectus, the financial
statements contained or incorporated by reference therein are not current or correct or the SEC issues a stop order. If the shares issuable
upon exercise of the warrants are not registered under the Securities Act, we will be required to permit holders to exercise their warrants
on a cashless basis. However, no warrant will be exercisable for cash or on a cashless basis, and we will not be obligated to issue any
shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified
under the securities laws of the state of the exercising holder or an exemption from registration is available. Notwithstanding the above,
if our common stock is at the time of any exercise of a warrant not listed on a national securities exchange such