Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1115

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1115
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 expenses 
    $(1,351,038) 
    $(1,508,683)
  
    Interest earned on the Trust Account 
    $425,416  
    $2,248,538 

The
key measures of segment profit or loss reviewed by our CODM are interest earned on the Trust Account and general and administrative expenses.
The CODM reviews interest earned on the Trust Account to measure and monitor stockholder value and determine the most effective strategy
of investment with the Trust Account funds while maintaining compliance with the trust agreement. General and administrative expenses
are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination
within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual
agreements to ensure costs are aligned with all agreements and budget.

F-23

Note 11 – Subsequent Events

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the consolidated financial statements were issued. Based on the Company’s
review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial
statements, other than as previously disclosed, and as described below.

On February 11, 2025, the Company entered into
a securities purchase agreement (the “SPA”) with an institutional investor (the “Investor”). Pursuant to the SPA,
the Investor is expected, subject to the conditions relating to such purchase set forth in the SPA, to purchase from the Company senior
secured convertible promissory notes in an aggregate principal amount of up to $22,222,222 (the “Convertible Notes”) for a
purchase price of up to $20,000,000, after a 10% original issue discount (“OID”).

On March 21, 2025, the Sponsor and its designees
have now agreed to contribute an amount (the “Revised Contribution Amount”) equal to $30,000 for the entire Extension Period.
All funds in the Company’s trust account, including those funds deposited in connection with the Revised Contribution Amount, will
be held in an interest-bearing demand deposit account at a bank until the earlier of the consummation of the Company’s initial business
combination or liquidation. The Revised Contribution Amount will be deposited in the Company’s trust account promptly at the beginning
of the Extension Period.

The Company announced that is has agreed to waive
its right to withdraw up to