Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 0

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 0
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ITEM 1. BUSINESS  

Our Company 

We are a blank check company
formed under the laws of the State of Delaware April 19, 2021. We were formed for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout
this prospectus as our initial business combination. Although there is no restriction or limitation on what industry our target operates
in, it is our intention to pursue prospective targets that are focused on healthcare innovation. We anticipate targeting what are traditionally
known as small cap companies domiciled in North America, Europe and/or the APAC regions that are developing assets in the biopharmaceutical,
medical technology/medical device and diagnostics space which aligns with our management team’s experience in operating health care
companies and in drug and device technology development as well as diagnostic and other services. 

Recent Developments 

Proposed Business Combination 

On November 7, 2022, NorthView
entered into a Merger Agreement and Plan of Reorganization (the “Merger Agreement”), by and among NorthView, NV Profusa Merger
Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of NorthView (“Merger Sub”), and Profusa, Inc., a California
corporation (“Profusa”). 

The Merger Agreement provides
that, among other things, at the closing (the “Closing”) of the transactions contemplated by the Merger Agreement, Merger
Sub will merge with and into Profusa (the “Merger”), with Profusa surviving as a wholly-owned subsidiary of NorthView. In
connection with the Merger, NorthView will change its name to “Profusa, Inc.” The Merger and the other transactions contemplated
by the Merger Agreement are hereinafter referred to as the “Business Combination.” 

The Business Combination is
subject to customary closing conditions, including the satisfaction of the minimum available cash condition, the receipt of certain governmental
approvals and the required approval by the stockholders of NorthView and Profusa. There is no assurance that the Business Combination
will be completed. 

The aggregate consideration
to be received by the Profusa stockholders is based on a pre-transaction equity value of $155,000,000. The exchange ratio will be equal
to (a) $155,000,000, divided by an assumed value of NorthView Common Stock of $