Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 546

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 546
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mate a Business Combination
from March 22, 2023 to December 22, 2023 (the “First Extension Meeting”).

On
December 21, 2023, the Company held a special meeting of stockholders to vote on extending the Combination Period. As a result, the Company
has extended the Combination Period from December 22, 2023 to March 22, 2024. In connection with the extension, 140,663 shares of the
Company’s common stock were redeemed, with 6,027,219 shares of Common Stock remaining outstanding after the Redemption; 833,469
shares of Common Stock remaining outstanding after the Redemption are shares issued in connection with our initial public offering. In
January 2024, $1,565,078 was paid from the trust account to redeeming stockholders in connection with the extension. 

On
January 2, 2024, the Company and Continental Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment
Management Trust Agreement, dated December 20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the
Company, to (i) hold the funds in the Company’s trust account uninvested or (ii) hold the funds in an interest-bearing bank demand
deposit account.

On
March 21, 2024, the Company held its 2024 Annual Meeting of Stockholders (the “Meeting”). At the meeting, the Company’s
stockholders approved the amendment of the Company’s amended and restated certificate of incorporation to extend the date by which
the Company must consummate a business combination or, if it fails to do so, cease its operations and redeem or repurchase 100% of the
shares of the Company’s common stock issued in the Company’s initial public offering, from March 22, 2024, monthly for up
to six additional months at the election of the Company and only upon contribution of $0.05 per month per outstanding public share, ultimately
until September 22, 2024.

44

In
connection with the meeting, the holders of 95,394 Public Shares properly exercised their right to redeem, with 5,931,825 shares
of Common Stock remaining outstanding after the Redemption; 738,075 shares of Common Stock remaining outstanding after the Redemption
are shares issued in connection with the initial public offering. Consequently, the contribution is $36,904