Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 402

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 402
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 Company
ultimately liquidate prior to a business combination (the “Dissolution Expense Waiver”). As a result, the Company was no longer
able to withdraw up to $100,000 of interest for such dissolution expenses upon liquidation, and such interest will be held in the trust
account and not be released until the earliest to occur of (i) the completion of the initial business combination, (ii) the
redemption of 100% of the Offering Shares (as defined below) if the Company is unable to complete its initial Business Combination within
the Extension, and (iii) the redemption of Public Shares in connection with a vote seeking to amend the provisions of our Charter.

The Company also agreed to
waive its right to withdraw interest from the Company’s trust account to pay the Company’s tax expenses (the “Tax Expense
Waiver”). As a result, the Company was no longer able to withdraw interest in order to pay future tax expenses, and such interest
will be held in the trust account and not be released until the earliest to occur of (i) the completion of the initial business combination,
(ii) the redemption of 100% of the Offering Shares (as defined below) if the Company is unable to complete its initial Business Combination
within the Extension, and (iii) the redemption of Public Shares in connection with a vote seeking to amend the provisions of our
Charter.

Prior to such announcement,
and subsequent to the record date of February 21, 2025, for the Special Meeting, the Company withdrew approximately $23,200 of interest
from the trust account for tax expenses.

All of the Public Shares contain
a redemption feature which allows for the redemption of such Public Shares in connection with our liquidation, if there is a stockholder
vote or tender offer in connection with our initial business combination and in connection with certain amendments to our amended and
restated certificate of incorporation. In accordance with SEC and its guidance on redeemable equity instruments, which has been codified
in ASC 480-10-S99, redemption provisions not solely within the control of a company require common stock subject to redemption to
be classified outside of permanent equity. Given that the Public Shares were issued with other freestanding instruments (i.e., public
warrants), the initial carrying value of common stock classified as temporary equity was the allocated proceeds determined in accordance
with ASC 470-20. The common stock is subject to ASC 480-10-S99. If it is probable that