Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 671

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 671
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 of our common stock, resulting in an aggregate of 4,743,750 founder
shares (up to 618,750 of which are subject to forfeiture).

Our sponsor purchased an aggregate
of 5,162,500 private placement warrants, each exercisable to purchase one share of common stock at $11.50 per share, at a price of $1.00
per warrant ($5,162,500 in the aggregate), in a private placement that closed simultaneously with the closing of our initial public offering.
The private placement warrants (including the shares of common stock issuable upon exercise of the private placement warrants) may not,
subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of our initial business combination.

If any of our officers or
directors becomes aware of a business combination opportunity that falls within the line of business of any entity to which he or she
has then-current fiduciary or contractual obligations, he or she may be required to present such business combination opportunity to such
entity prior to presenting such business combination opportunity to us. Our executive officers and directors currently have certain relevant
fiduciary duties or contractual obligations that may take priority over their duties to us.

We entered into an Administrative
Services Agreement pursuant to which we pay NorthView Sponsor I, LLC, an affiliate of one of our officers, a total of $5,000 per month
for office space, utilities, secretarial support and other administrative and consulting services. Upon completion of our initial business
combination or our liquidation, we will cease paying these monthly fees. Accordingly, in the event the consummation of our initial business
combination takes the maximum 21 months, NorthView Sponsor I, LLC will be paid a total of $105,000 ($5,000 per month) for office space,
utilities, secretarial support and other administrative and consulting services and will be entitled to be reimbursed for any out-of-pocket
expenses. As of June 30, 2023, the Company and the sponsor terminated this agreement.

Our sponsor, executive officers
and directors, or any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities
on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit
committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates
and will determine which expenses and the amount of expenses that will be reimbursed