Company: PFSA
Filing Date: 2025-02-18
Form Type: PRE 14A
Source: 0001213900-25-014919
Chunk: 25

Company: Profusa, Inc.
Filing Date: 2025-02-18
Form: PRE 14A
Chunk 25
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 excise tax. In this regard, on December 27, 2022, the Treasury and
the Internal Revenue Service issued a notice announcing their intent to issue proposed regulations addressing the application of the excise
tax, and describing certain rules on which taxpayers may rely prior to the issuance of such proposed regulations (the “Notice”).

Any redemption or other repurchase that occurs after December 31,
2022 in connection with a Redemption Event may be subject to the excise tax. Pursuant to the rules set forth in the Notice, however, redemptions
in connection with a liquidation of the Company are generally not subject to the excise tax. Whether and to what extent the Company would
be subject to the excise tax in connection with a Redemption Event would depend on a number of factors, including (i) the fair market
value of the redemptions and repurchases in connection with the Redemption Event, (ii) the structure of the business combination,
(iii) the nature and amount of any “PIPE” or other equity issuances in connection with the business combination (or otherwise
issued not in connection with the Redemption Event but issued within the same taxable year of the business combination) and (iv) the
content of regulations and other future guidance from the Treasury. In addition, because the excise tax would be payable by the Company,
and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could
cause a reduction in the cash available on hand to complete a business combination and in the Company’s ability to complete a business
combination.

If the NTA Amendment Proposal is not approved and implemented, the ability of the public stockholders to redeem their shares for cash could cause the Company’s net tangible assets to be less than $5,000,001, which would prevent the Company from consummating the Extension and an initial business combination.

NorthView’s charter prevents NorthView from redeeming public
shares to a level that would cause NorthView to have net tangible assets of less than$5,000,001 (the “NTA Requirement”).
The initial purpose of the NTA Requirement in the charter was to ensure that NorthView would not be subject to the “penny stock”
rules of the SEC, and to therefore not be deemed a “blank check company” as defined under Rule 419 of the Securities Act,
because it complied with the NTA Requirement.

The ability of the public stockholders to redeem their shares