Company: PFSA
Filing Date: 2025-02-27
Form Type: PRER14A
Source: 0001213900-25-017608
Chunk: 20

Company: Profusa, Inc.
Filing Date: 2025-02-27
Form: PRER14A
Chunk 20
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 to complete an initial business combination within the required  
 time period, our Sponsor has agreed to indemnify us to ensure that the proceeds in the Trust Account are not reduced below $10.10 per     
 public share, or such lesser per public share amount as is in the Trust Account on the liquidation date, by the claims of prospective     
 target businesses with which we have entered into an acquisition agreement or claims of any third party for services rendered or products 
 sold to us, but only if such a third party or target business has not executed a waiver of any and all rights to seek access to the Trust 
 Account; and                                                                                                                              |

| ● | none of our officers or directors has received any cash compensation for services rendered to the Company, and all of the current          
 members of our Board are expected to continue to serve as directors at least through the date of the special meeting to vote on a proposed 
 business combination and may even continue to serve following any potential business combination and receive compensation thereafter.      |

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Our securities were suspended from trading and delisted from Nasdaq on December 27, 2024, following receipt of a delisting determination letter from Nasdaq on December 20, 2024. This could have significant material adverse consequences on us and our securities, including that it will negatively impact our ability to complete a business combination, will limit investors’ ability to make transactions in our securities and could subject us to additional trading restrictions.

We currently have up until as late as March 22, 2025 to complete
an initial business combination. Nasdaq Listing Rule 5815, which was amended effective October 7, 2024, provides for the immediate
suspension and delisting upon issuance of a listing determination letter for failure to meet the requirement in Nasdaq Listing Rule IM
5101-2(b), curtailing the ability of the Nasdaq hearings panel to give special purpose acquisition companies (SPACs) more time to complete
an initial business combination beyond 36 months. Nasdaq Listing Rule IM 5101-2(b) requires a SPAC such as us to complete its initial
business combination within 36 months of the effectiveness of its IPO registration statement, which, in our case, was December 20,
2024.

As such, following December 20, 2024 (our 36-month anniversary),
we are no longer in compliance with Nasdaq listing rules. On December 20, 2024, we received a delisting determination