Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 60

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 60
---
 them to devote
substantial amounts of time to such affairs in excess of their current commitment levels, it could limit their ability to devote time
to our affairs which may have a negative impact on our ability to complete our initial business combination.

28

Certain of our executive officers and directors
are now, and all of them may in the future become, affiliated with entities engaged in business activities similar to those intended to
be conducted by us following our initial business combination and, accordingly, may have conflicts of interest in determining to which
entity a particular business opportunity should be presented.

Following the completion of
our initial public offering and until we consummate our initial business combination, we intend to engage in the business of identifying
and combining with one or more businesses. Our executive officers and directors are, or may in the future become, affiliated with entities
that are engaged in business activities similar to those intended to be conducted by us following our initial business combination.

Our officers and directors
also may become aware of business opportunities which may be appropriate for presentation to us and the other entities to which they owe
certain fiduciary or contractual duties. Accordingly, they may have conflicts of interest in determining to which entity a particular
business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented
to another entity prior to its presentation to us. Our amended and restated certificate of incorporation provides that we renounce our
interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person solely
in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue.

For a complete discussion
of our executive officers’ and directors’ business affiliations and the potential conflicts of interest that you should be
aware of, please see “Management - Directors and Executive Officers,” “Management - Conflicts of Interest” and
“Certain Relationships and Related Party Transactions.”

Our executive officers, directors, security
holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.

We have not adopted a policy
that expressly prohibits our executive officers, directors, security holders and their respective affiliates from having a direct or indirect
pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or
have an interest. In fact, we may enter into a business combination with