Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 504

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 504
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10 -Qfor the period ended June 30, 2024. Neither the Prior Notice nor the Extension Notice has an immediate effect on the listing of the Company’s securities on Nasdaq. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq. If the Company does not satisfy the terms of the exception, the Staff will provide written notification that the Company’s securities will be delisted. At such time, the Company could appeal the Staff’s determination to a Hearings Panel. On December 6, 2024, the Company received a notice from the Nasdaq’s Listing Qualifications’ Staff stating that since the Company has not filed its Form 10 -Qfor the period ended September 30, 2024, the Company no longer complies with Listing Rules for continued listing. The Company has 60 calendar days to submit a plan to regain compliance and if Nasdaq accepts the plan, the Company will be granted an exception of up to 180 calendar days from filing’s due date or until May 19, 2025 to regain compliance. On October 7, 2024, Nasdaq Rule 5815 was amended, companies failing to complete a business combination within 36 months, as required by Rule IM 5101 -2(b), will face immediate suspension and delisting after receiving a Nasdaq determination letter. Liquidity and Going Concern As of September 30, 2024, the Company had $ 533in cash and a working capital deficit of $ 4,483,517. 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 $ 25,000for 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 Public Offering and Private Placement, the Company’s liquidity needs have been satisfied through the proceeds from the consummation of the Private Placement not held in the Trust Account, and the drawdowns on the convertible promissory note. In order to finance transaction costs in connection with an intended Business Combination, the initial stockholders or an affiliate of the initial stockholders or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (see Note 5). F-10 NORTHVIEW AC