Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 404

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 404
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 Sponsor will not be responsible to the extent of any liability for such third-party claims.

Nasdaq Delisting Notification

On December 20, 2024,
the Company received a written notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market that the Company’s
securities would be delisted from The Nasdaq Stock Market by reason of the failure of the Company to complete its initial business combination
by December 20, 2024 (36 months from the effectiveness of its IPO registration statement) as required by Listing Rule IM-5101-2.
Accordingly, trading in the Company’s Common Stock, Rights and Warrants was suspended at the opening of business on December 27,
2024 and a Form 25-NSE was filed by Nasdaq with the Securities and Exchange Commission, which removed the Company’s securities
from on the Nasdaq Stock Market. The Company’s Common Stock, Rights and Warrants began to be quoted on the Pink Markets operated
on The OTC Market systems (“OTC Market”) under the symbols “NVAC,” “NVACR” and “NVACW.”

Use of Funds Restricted for Payment of Taxes

From inception to date, the
Company has withdrawn a total of $1,484,219 of interest from the Trust Account of which $1,453,297 was paid for franchise and income taxes.
Of the aggregate withdrawals, $30,922 was restricted for the payment of the Company’s income taxes. The Company utilized $29,171
of these withdrawals towards funding operating expenses, as well as the monthly extension deposits. As of June 30, 2025, the Company
has restricted cash of $1,751. The Company intends to deposit $29,171 back into the Trust Account or use the $29,171 (or a portion thereof)
for tax obligations until a deposit is made into the trust on a future date.

Liquidity and Going Concern

As of June 30, 2025,
the Company had $1,751 in restricted cash and a working capital deficit of $15,492,554. Prior to the completion of the Company’s
IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $25,000 for the founder
shares to cover certain of the offering costs and the loan under an unsecured promissory note from the Sponsor of $204,841, which was
fully paid upon the IPO. Subsequent to the consummation of the Initial