Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 52

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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19, 2024 stockholders meeting. On December 13, 2024, the
Company made a deposit of $68,752 for the October and November extension contributions. On December 23, 2024, the Company made a deposit
of $34,376 for the December extension contribution. On February 27, 2025, the Company made a deposit of $49,376 for the January extension
contribution and a portion ($15,000) of the February extension contribution. On March 7, 2025, the Company deposited the remainder of
the February extension contribution of $19,376, plus interest.

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.

On June 9, 2025, the Company held its a special
meeting of stockholders. At the meeting, the Company’s stockholders approved Merger Agreement and the actions and transactions contemplated
thereby, including (i) adopt an amended and restated Certificate of Incorporation, to be effective upon closing of the Merger (ii) approving
certain advisory proposals related to the amended and restated Certificate of Incorporation, (iii) approved the issuance of new shares
of the Company’s Common Stock as merger consideration, (iv) elected new directors, and (v) approved new employee incentive plans.

In connection with the meeting, the holders of
52,784 Public Shares properly exercised their right to redeem, with 5,295,527 shares of Common Stock remaining outstanding after such
redemptions.

27

Promissory Note

On January 10, 2024, the Company’s Board
of Directors approved, and the Company amended, its Convertible Working Capital Promissory Note (the “Note”) with the sponsor
to