Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 565

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 565
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377,857 |   |     | $        |          — |   |     | $                |   29,274 |   |     | $         |    407,131 |   |

Transfers to/from Levels1, 2 and 3 are recognized at the end of the reporting period. There was a transfer out of Level 3 to Level 1 for the fair value of the Public Warrants when they began to trade separately from the Units during the three months ended March 31, 2022.

The fair value of the Company’s working capital loan is valued using a compound option formula on the convertible feature and a present value of the host contract. The valuation technique requires inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumption about the assumptions a market participant would use in pricing the working capital loan.

Note 9 — Income Taxes

The Company’s net deferred tax assets are as follows:

|                                       |     |   | December 31, 
         2023 |   |     |   | December 31, 
         2022 |   |
|:--------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Deferred tax asset/(liability)        |     |   |              |   |     |   |              |   |
| Organizational costs/Startup expenses |     | $ |      436,196 |   |     | $ |      232,484 |   |
| Unrealized gain/loss – Trust          |     |   |      (13,661 | ) |     |   |      (36,940 | ) |

|                                            |     |   | December 31, 
         2023 |   |     |   | December 31, 
         2022 |   |
|:-------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Net deferred tax asset                     |     |   |      422,535 |   |     |   |      195,544 |   |
| Valuation allowance                        |     |   |     (436,196 | ) |     |   |     (232,484 | ) |
| Deferred tax (liability), net of allowance |     | $ |      (13,661 | ) |     | $ |      (36,940 | )