Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 50

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 IV” to
change the earnout revenue target from $99,702,000 for the fiscal year ended December 31, 2025 to an earnout revenue target of $11,864,000
for the fiscal year ended December 31, 2026.

On April 2, 2025, the parties to the Merger Agreement
entered into an Amendment No. 5 to the Merger Agreement (“Amendment No. 5”) pursuant to which Section 9.01 of the Merger Agreement
is hereby amended such that the reference to “March 22, 2025” shall be replaced with “June 22, 2025” by which
the Company must consummate a Business Combination.

Extension of Our Combination Period

On March 10, 2023, the Company held a vote to
amend its amended and restated certificate of incorporation to extend the date by which the Company must consummate a Business Combination
from March 22, 2023 to December 22, 2023 (the “First Extension Meeting”).

On December 21, 2023, the Company held a special
meeting of stockholders to vote on extending the Combination Period. As a result, the Company has extended the Combination Period from
December 22, 2023 to March 22, 2024. In connection with the extension, 140,663 shares of the Company’s common stock were redeemed,
with 6,027,219 shares of Common Stock remaining outstanding after the Redemption; 833,469 shares of Common Stock remaining outstanding
after the Redemption are shares issued in connection with our initial public offering. In January 2024, $1,565,078 was paid from the
trust account to redeeming stockholders in connection with the extension.

On January 2, 2024, the Company and Continental
Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment Management Trust Agreement, dated December
20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the Company, to (i) hold the funds in the Company’s
trust account uninvested or (ii) hold the funds in an interest-bearing bank demand deposit account.

On March 21, 2024, the Company held its 2024
Annual Meeting of Stockholders (the “Meeting”). At the meeting, the Company’s stockholders approved the amendment of
the Company’s amended and