Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 366

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 366
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 extending the Combination Period. As a result, the Company extended the
Combination Period from December 22, 2023 to March 22, 2024, which was later extended to March 22, 2025. In connection
with the extension voted on December 21, 2023, 140,663 shares of the Company’s common stock were redeemed. In January 2024,
$1,565,078 was paid from the Trust Account to redeeming stockholders in connection with the extension. As a result, the Company recorded
a liability of $1,565,078 as common stock to be redeemed and reduced common stock subject to possible redemption as of December 31,
2023 on the balance sheet. Additionally, as part of the adjustment of common stock subject to possible redemption, the Company classified
$1,565,078 of the trust account as a current asset on the consolidated balance sheets, which was paid from the Trust Account in January 2024
to redeeming stockholders.

On March 18, 2025, the company
commenced a special meeting of stockholders, which was adjourned until March 21, 2025 without conducting any business. On March 21, 2025,
the Company reconvened the special meeting to approve an extension of time for the Company to consummate an initial business combination
from March 22, 2025 to June 22, 2025. The meeting was adjourned until March 21, 2025, at which the stockholders approve the extension
of the business combination period until June 22, 2025. As a condition of the extension, the Company contributed $30,000 to the Trust
Account, for the entire extension period, on March 21, 2025.

As of December 31, 2024, all
of the Trust assets were classified as noncurrent assets.

Fair Value of Financial Instruments

The fair value of the Company’s
assets and liabilities approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to
their short-term nature, except for the warrant liabilities and convertible promissory note.

Income Taxes

The Company accounts for income
taxes under ASC 740, “Income Taxes.” ASC 740, Income Taxes, requires the recognition of deferred tax assets and
liabilities for both the expected impact of differences between the consolidated financial statements and tax basis of assets and liabilities
and for the expected future tax benefit to be