Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 12

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 12
---
22, 2025. The aggregate of 18,287,481 public shares redeemed in connection with the Extension
represented approximately 75.7% of the total NorthView shares of common stock outstanding following NorthView’s IPO and approximately
96.4% of the public shares previously outstanding. As of December 31, 2024, NorthView had 687,519 public shares of NorthView Common Stock
outstanding, and held approximately $8.3 million in the Trust Account. In connection with this Extension, each monthly extension shall
require NorthView or its designee to contribute $0.05, per public share outstanding, to the Trust account. We will provide our public
stockholders with the opportunity to redeem all or a portion of their shares of common stock upon the completion of our initial business
combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business
days prior to the consummation of the initial business combination, including interest (which interest shall be net of taxes payable)
divided by the number of then outstanding public shares, subject to the limitations described herein. The amount in the trust account
was initially approximately $10.10 per public share. This amount has increased as a result of contributions to the trust account in connection
with the Extension, as well as interest earned on the amounts held in the trust account. The per share amount we will distribute to stockholders
who properly exercise their redemption rights will not be reduced by the fee payable to I-Bankers and Dawson James pursuant to the business
combination marketing agreement. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they
have agreed to waive their redemption rights with respect to their founder shares and any public shares they may hold in connection with
the completion of our business combination, although they will be entitled to liquidating distributions from the trust account with respect
to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame.

5

Ability to Extend Time to Complete Business
Combination

We will have until the end
of the combination period to consummate our initial business combination. However, if we anticipate that we may not be able to consummate
our initial business combination within 15 months from our initial public offering, we may, by resolution of our board if requested by
our sponsor, extend the period of time to consummate a business combination up to two times,