Company: PFSA
Filing Date: 2025-07-15
Form Type: DEF 14C
Source: 0001213900-25-063839
Chunk: 9

Company: Profusa, Inc.
Filing Date: 2025-07-15
Form: DEF 14C
Chunk 9
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 STOCK CONTEMPLATING EXERCISE OF THEIR REDEMPTION RIGHTS TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE UNITED STATES FEDERAL, STATE, LOCAL, AND FOREIGN INCOME AND OTHER TAX CONSEQUENCES THEREOF.

U.S. Federal Income Tax Considerations to U.S. Holders

This section is addressed to U.S. Holders of our common stock that
elect to have their common stock redeemed for cash. For purposes of this discussion, a “U.S. Holder” is a beneficial owner
that so redeems its common stock of the Company and is:

| ● | an individual who is a United                    
 States citizen or resident of the United States; |

| ● | a corporation (including an                                                                                                            
 entity treated as a corporation for United States federal income tax purposes) created or organized in or under the laws of the United 
 States, any state thereof or the District of Columbia;                                                                                 |

| ● | an estate the income of which                                                                            
 is includible in gross income for United States federal income tax purposes regardless of its source; or |

| ● | a trust (A) the administration                                                                                                              
 of which is subject to the primary supervision of a United States court and which has one or more United States persons (within the meaning 
 of the Code) who have the authority to control all substantial decisions of the trust or (B) that has in effect a valid election under      
 applicable Treasury regulations to be treated as a United States person.                                                                    |

Redemption of Common Stock

In the event that a U.S. Holder’s common stock of the Company
is redeemed, the treatment of the transaction for U.S. federal income tax purposes will depend on whether the redemption qualifies as
a sale of the common stock under Section 302 of the Code. Whether the redemption qualifies for sale treatment will depend largely on the
total number of shares of our stock treated as held by the U.S. Holder (including any stock constructively owned by the U.S. Holder as
a result of owning warrants) relative to all of our shares both before and after the redemption. The redemption of common stock generally
will be treated as a sale of the common stock (rather than as a distribution) if the redemption (i) is “substantially disproportionate”
with respect to the U.S. Holder, (ii) results in a “complete termination” of the U.S. Holder’s interest in us or (iii)
is “not essentially equivalent to a dividend” with respect to the U