Company: PFSA
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079829
Chunk: 372

Company: Profusa, Inc.
Filing Date: 2025-08-22
Form: S-1/A
Chunk 372
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. Nasdaq Delisting Notification On December 20, 2024, the Company received a written notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market that the Company’s securities would be delisted from The Nasdaq Stock Market by reason of the failure of the Company to complete its initial business combination by December 20, 2024 (36 months from the effectiveness of its IPO registration statement) as required by Listing Rule IM -5101-2. Accordingly, trading in the Company’s Common Stock, Rights and Warrants was suspended at the opening of business on December 27, 2024 and a Form 25 -NSEwas filed by Nasdaq with the Securities and Exchange Commission, which removed the Company’s securities from on the Nasdaq Stock Market. The Company’s Common Stock, Rights and Warrants began to be quoted on the Pink Markets operated on The OTC Market systems (“OTC Market”) under the symbols “NVAC,” “NVACR” and “NVACW.” Use of Funds Restricted for Payment of Taxes From inception to date, the Company has withdrawn a total of $ 1,484,219of interest from the Trust Account of which $ 1,453,297was paid for franchise and income taxes. Of the aggregate withdrawals, $ 30,922was restricted for the payment of the Company’s income taxes. The Company utilized $ 29,171of these withdrawals towards funding operating expenses, as well as the monthly extension deposits. As of June 30, 2025, the Company has restricted cash of $ 1,751. The Company intends to deposit $ 29,171back into the Trust Account or use the $ 29,171(or a portion thereof) for tax obligations until a deposit is made into the trust on a future date. Liquidity and Going Concern As of June 30, 2025, the Company had $ 1,751in restricted cash and a working capital deficit of $ 15,492,554. Prior to the completion of the Company’s IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $ 25,000for the founder shares to cover certain of the offering costs and the loan under an unsecured promissory note from the Sponsor of $ 204,841, which was fully paid upon the IPO. Subsequent F-89 NORTHVIEW ACQUISITION CORPORATION
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Note