Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 104

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 of less than $9.20 per share of common stock
(with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such
issuance to the initial stockholders or their affiliates, without taking into account any founder shares held by such stockholders or
their affiliates, as applicable, prior to such issuance (the “Newly Issued Price”)), (y) the aggregate gross proceeds
from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for funding the initial
Business Combination (net of redemptions), and (z) the volume weighted average trading price of the common stock during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates the Business Combination (such price, the “Market
Value”) is below $9.20 per share, the exercise price shall be adjusted (to the nearest cent) to be equal to 115% of the
higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described in the section
“Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value
and the Newly Issued Price.

15

The warrants will become exercisable on the later
of 12 months from the closing of the IPO or 30 days after the completion of its initial Business Combination and will expire
five years after the completion of the Company’s initial Business Combination, at 5:00 p.m., New York City time, or earlier
upon redemption or liquidation.

The Company has agreed that as soon as practicable,
but in no event later than 15 business days after the closing of the initial Business Combination, the Company will use its reasonable
best efforts to file, and within 60 business days after the closing of the initial Business Combination, to have declared effective,
a registration statement relating to those shares of common stock, and to maintain a current prospectus relating to such shares of common
stock until the warrants expire or are redeemed. Notwithstanding the foregoing, if a registration statement covering the shares of common
stock issuable upon exercise of the warrants is not effective within the above specified period following the consummation of the initial
Business Combination, warrant holders may, until such time as there is an effective registration statement and