Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 790

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 790
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 held a special meeting of stockholders to vote on extending the Combination Period. As a result, the
Company extended the Combination Period from December 22, 2023 to March 22, 2024. In connection with the extension, 140,663 shares
of the Company’s common stock were redeemed, with 6,027,219 shares of Common Stock remaining outstanding after the Redemption;
833,469 shares of Common Stock remaining outstanding after the Redemption are shares issued in connection with our initial public
offering. In January 2024, $1,565,078 was paid from the Trust Account to redeeming stockholders in connection with the
extension.

On
January 2, 2024, the Company and Continental Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment
Management Trust Agreement, dated December 20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the
Company, to (i) hold the funds in the Company’s trust account uninvested or (ii) hold the funds in an interest-bearing bank demand
deposit account.

On
January 10, 2024, the Company’s Board of Directors approved, and the Company amended, its Convertible Working Capital Promissory
Note (the “Note”) with the sponsor to increase the principal amount of the Note that could be drawn on to $1.5 million.
The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares
of Company common stock at a price of $2.22 per share at the election of the sponsor. On May 31, 2024, the Company’s Board of Directors
approved and the Company entered into a second amendment of its Convertible Working Capital Promissory Note with the sponsor to increase
the principal amount of the Note that could be drawn on to $2.5 million. The second amended and restated Note also allows for the
conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $2.22 per
share at the election of the sponsor.

On
March 21, 2024, the Company held its 2024 Annual Meeting of Stockholders (the “Meeting”). At the meeting, the Company’s
stockholders approved the amendment of the Company’s amended and restated certificate of incorporation to extend the date by which