Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 12

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 Profusa, Inc. (the “Company”) received
a notice (the “MVLS Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”)
notifying the Company that, based upon its review of the market value of listed securities (“MVLS”) of the Company’s
common stock, par value $0.0001 per share (the “Common Stock”), from July 29, 2025 to September 10, 2025, the Company no longer
meets Nasdaq Listing Rule 5450(b)(2)(A), which requires companies listed on the Nasdaq Global Market to maintain a minimum MVLS of $50,000,000.
The Company has been provided a compliance period of 180 calendar days, or until March 10, 2026, to regain compliance with Nasdaq Listing
Rule 5450(b)(2)(A). If at any time during this compliance period, the Common Stock’s MVLS closes at $50,000,000 or more for a minimum
of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and this matter will be closed,
provided, however that Nasdaq may, in its discretion, require the Company to maintain the minimum MVLS for a period in excess of ten consecutive
business days, but generally no more than 20 consecutive business days, before determining that the Company has demonstrated an ability
to maintain long-term compliance.

In the event the Company does not regain compliance with Nasdaq Listing
Rule 5450(b)(2)(A) prior to the expiration of the compliance period, the Company will receive written notification that the Company’s
securities are subject to delisting. At that time, the Company may appeal the delisting determination to a hearings panel. The Company
is monitoring the MVLS of its listed securities and is considering available options to regain compliance with Nasdaq’s continued
listing standards. There can be no assurance that the Company will be able to regain compliance with Nasdaq Listing Rule 5450(b)(2)(A)
or maintain compliance with other applicable Nasdaq listing requirements.

7

On September 11, 2025, the Company received a second notice (the “Bid
Price Notice”, and together with the MVLS Notice, the “Notices”) from Nasdaq notifying the Company that, based upon
its review of the closing bid price of the Common Stock, from July 29, 2025 to September 10,