Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 206

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 206
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 pay dividends as a public company in the future will be made at the discretion of New Profusa’s board of directors and will depend on, among other things, New Profusa’s results of operations, financial condition, cash requirements, contractual restrictions and other factors that New Profusa’s board of directors may deem relevant. In addition, New Profusa’s ability to pay dividends may be limited by covenants of any existing and future outstanding indebtedness it or its subsidiaries incur. As a result, you may not receive any return on an investment in New Profusa Common Stock unless you sell your shares of common stock for a price greater than that which you paid for it. New Profusa may issue additional shares of its common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of New Profusa Common Stock. Pursuant to the Equity Incentive Plan and the ESPP, following the completion of the proposed transactions, New Profusa may issue an aggregate of approximately 15% of the fully diluted shares of New Profusa Common Stock, which amount will be subject to increase from time to time. For additional information about this plan, please read the discussion under the headings “ Proposal 6 — The Equity Incentive Plan Proposal,” “ Proposal 7 — The ESPP Proposal” and “ Profusa’s Executive Compensation — Employee Benefit Plans.” New Profusa may also issue additional shares of New Profusa Common Stock or other equity securities of equal or senior rank in the future in connection with, among other things, future acquisitions or repayment of outstanding indebtedness, without stockholder approval, in a number of circumstances. 93 The issuance of additional shares or other equity securities of equal or senior rank would have the following effects: •existing stockholders’ proportionate ownership interest in New Profusa will decrease; •the amount of cash available per share, including for payment of dividends in the future, may decrease; •the relative voting strength of each previously outstanding New Profusa Common Stock may be diminished; and •the market price of New Profusa Common Stock may decline. Anti-takeover provisions in New Profusa’s amended and restated certificate of incorporation and under Delaware law could make an acquisition of New Profusa, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove New Profusa’s current management. New Profusa’s amended and restated certificate of incorporation that will be in effect upon completion of the Business Combination will contain provisions that may