Company: PFSA
Filing Date: 2025-08-29
Form Type: S-1
Source: 0001213900-25-082672
Chunk: 349

Company: Profusa, Inc.
Filing Date: 2025-08-29
Form: S-1
Chunk 349
---
 of funds in the Trust Account to below (i) $ 10.10per public share or (ii) such lesser amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in value of the trust assets, in each case net of the amount of interest which may be released to the Company to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third -partyclaims. Nasdaq Delisting Notification On December 20, 2024, the Company received a written notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market that the Company’s securities would be delisted from The Nasdaq Stock Market by reason of the failure of the Company to complete its initial business combination by December 20, 2024 (36 months from the effectiveness of its IPO registration statement) as required by Listing Rule IM -5101-2. Accordingly, trading in the Company’s Common Stock, Rights and Warrants was suspended at the opening of business on December 27, 2024 and a Form 25 -NSEwas filed by Nasdaq with the Securities and Exchange Commission, which removed the Company’s securities from on the Nasdaq Stock Market. The Company’s Common Stock, Rights and Warrants began to be quoted on the Pink Markets operated on The OTC Market systems (“OTC Market”) under the symbols “NVAC,” “NVACR” and “NVACW.” Use of Funds Restricted for Payment of Taxes From inception to date, the Company has withdrawn a total of $ 1,484,219of interest from the Trust Account of which $ 1,453,297was paid for franchise and income taxes. Of the aggregate withdrawals, $ 30,922was restricted for the payment of the Company’s income taxes. The Company utilized $ 29,171of these withdrawals towards funding operating expenses, as well as the monthly extension deposits. As of June 30, 2025, the Company has restricted cash of $ 1,751. The Company intends to deposit $ 29,171back into the Trust Account or use the $