Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 441

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 441
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 from registration
contained in Section 4(a)(2) of the Securities Act of 1933, as amended. 

I-Bankers and Dawson James
were representatives of the several underwriters. The securities sold in the IPO were registered under the Securities Act on registration
statements on Form S-1 (Nos. 333-257156 and 333-261763). The SEC declared the registration statement effective on December 20, 2021. 

We paid a total of $3,450,000
in underwriting discounts and commissions and $609,623 for other costs and expenses related to the IPO. I-Bankers and Dawson James, representatives
of the several underwriters in the IPO, received a portion of the underwriting discounts and commissions related to the IPO. We also repaid
the promissory note to the Sponsor from the proceeds of the IPO. After deducting the underwriting discounts and commissions and incurred
offering costs, the total net proceeds from our IPO and the sale of the private placement warrants was $193,647,500, of which $191,647,500
(or $10.10 per unit sold in the IPO) was placed in the trust account. Other than as described above, no payments were made by us to directors,
officers or persons owning ten percent or more of our common stock or to their associates, or to our affiliates. 

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

There were no such repurchases
of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.  

ITEM 6. [RESERVED]

41

ITEM 7.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction
with our audited consolidated financial statements and the notes related thereto which are included in “Item 8. Consolidated Financial
Statements and Supplementary Data” of this Annual Report on Form 10-K. Certain information contained in the discussion and analysis
set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking
statements as a result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements,”
“Item 1A. Risk Factors” and elsewhere in this Annual Report on Form 10-K