Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 427

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 427
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which included 74,250 warrants issued pursuant to the full exercise
of the over-allotment option) exercisable at $11.50 per share (or an aggregate exercise price of $6,546,375) at the closing of the
IPO. The Representative Warrants issued are recognized as derivative liabilities in accordance with ASC 815-40 and recorded
as liabilities at fair value each reporting period (see Notes 1 and 8). The warrants may be exercised for cash or on a cashless basis,
at the holder’s option, at any time during the period commencing on the later of the first anniversary of the effective date of
the registration statement of which the IPO forms a part and the closing of the initial Business Combination and terminating on the fifth
anniversary of such effectiveness date. Notwithstanding anything to the contrary, I-Bankers and Dawson James have agreed that
neither they nor their designees will be permitted to exercise the warrants after the five year anniversary of the effective
date of the registration statement of which the IPO forms a part. The warrants and such shares purchased pursuant to the warrants have
been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the
date of the effectiveness of the registration statement of which the IPO forms a part pursuant to FINRA Rule 5110I(1). Pursuant to
FINRA Rule 5110I(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that
would result in the economic disposition of the securities by any person for a period of 180 days immediately following the effective
date of the registration statement of which the IPO forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated
for a period of 180 days immediately following the effective date of the registration statement of which the IPO forms a part except
to any underwriter and selected dealer participating in the offering and their bona fide officers or partners. The warrants grant to holders
demand and “piggy back” rights for periods of five and seven years, respectively, from the effective date of the registration
statement of which the IPO forms a part with respect to the registration under the Securities Act of the shares issuable upon
exercise of the warrants. The Company will bear all fees and expenses attendant to registering the securities, other than underwriting
commissions, which will be paid for by the holders themselves. The exercise