Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 210

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 210
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 or other debt securities, or to otherwise incur outstanding debt following our initial
public offering, we may choose to incur substantial debt to complete our initial business combination. We have agreed that we will not
incur any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or to the
monies held in the trust account. As such, no issuance of debt will affect the per-share amount available for redemption from the trust
account. Nevertheless, the incurrence of debt could have a variety of negative effects, including:

●default
and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations;

●acceleration
of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants
that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

●our
immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

●our
inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing
while the debt security is outstanding;

●our
inability to pay dividends on our common stock;

●using
a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends
on our common stock if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;

●limitations
on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

●increased
vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;
and

●limitations
on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of
our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

If we effect our initial business combination
with a company with operations or opportunities outside of the United States, we would be subject to a variety of additional risks that
may negatively impact our operations.

If we effect our initial business
combination with a company with operations or opportunities outside of the United States, we would be subject to any special considerations
or risks associated with companies operating in an international setting, including any of the following:

●higher
costs and difficulties inherent in managing cross-border business operations and complying with different commercial and