Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1141

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 1141
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 will be entitled to liquidating distributions from the trust account
with respect to any public shares they hold. If we do not complete our initial business combination within such applicable time period,
the proceeds of the sale of the private placement warrants will be used to fund the redemption of our public shares, and the private
placement warrants will expire worthless. With certain limited exceptions, the founder shares will not be transferable, assignable or
salable by our initial stockholders until the earlier of (1) one year after the completion of our initial business combination and (2)
the date on which we consummate a liquidation, merger, capital stock exchange, reorganization, or other similar transaction after our
initial business combination that results in all of our stockholders having the right to exchange their shares of common stock for cash,
securities or other property. Notwithstanding the foregoing, if the last sale price of our common stock equals or exceeds $12.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within
any 30-trading day period commencing at least 150 days after our initial business combination, the founder shares will be released from
the lock-up. With certain limited exceptions, the private placement warrants and the securities underlying such warrants will not be
transferable, assignable or salable by our initial stockholders until 30 days after the completion of our initial business combination.
Since our initial stockholders and officers and directors may directly or indirectly own common stock and warrants following our initial
public offering, our officers and directors may have a conflict of interest in determining whether a particular target business is an
appropriate business with which to effectuate our initial business combination.

●Our
officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention
or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our
initial business combination.

●Our
initial stockholders, officers or directors may have a conflict of interest with respect to evaluating a business combination and financing
arrangements as we may obtain loans from our initial stockholders or an affiliate of our initial stockholders or any of our officers
or directors to finance transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such loans
may be, at the option of the lender, convertible into placement warrants at a price of $1.00 per