Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 66

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 66
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 with in all material respects, (ii) the shares of New Profusa Common Stock issuable in connection with the Business Combination being listed on the Nasdaq Stock Market, and (iii) NorthView having cash on hand (inclusive of proceeds from certain permitted financings) of at least $15,000,000 (after deducting any amounts paid to NorthView stockholders that exercise their redemption rights in connection with the Business Combination and net of certain transaction expenses incurred or subject to reimbursement by the Sponsor). If the NorthView Closing Cash on Hand amount is less than $15,000,000, (a) after the NorthView stockholder meeting to approve the Business Combination, NorthView may sell additional shares of NorthView Common Stock to investors, and (b) after the deadline for NorthView stockholders to elect to redeem their NorthView Common Stock in connection with the Business Combination, NorthView may, with the consent of Profusa, enter into agreements incentivizing redeeming stockholders to unwind their election to redeem. The Sponsor has agreed to forfeit up to 1,040,000 of its shares of NorthView Common Stock to allow NorthView to sell additional shares or to offer shares in connection with any such incentive agreements. Profusa has conditionally waived the Minimum Cash Amount closing condition, subject to NorthView having sufficient funds to satisfy Nasdaq’s initial listing requirements as of the Closing. While Nasdaq has several market tiers and listing standards under which a company may be listed, we currently expect that New Profusa will be listed on the Nasdaq Global Market pursuant to the Market Value Standard for initial listings. Such Market Value Standard does not have a minimum threshold requirement for stockholders’ equity or total assets of the listing company, however it is expected that at the time of listing, New Profusa will need to demonstrate its ability to operate as a going concern. In order to demonstrate New Profusa’s ability to operate as a going concern, we anticipate needing to demonstrate cash on hand at the time of closing of between $3.2million and $4.8million. We currently expect to have such cash amounts at the time of Closing. 4 Termination Rights The Merger Agreement may be terminated under certain customary and limited circumstances prior to the Closing of the Business Combination, including, but not limited to, (i) by mutual written consent of NorthView and Profusa, (ii) by NorthView, on the one hand, or Profusa, on the other hand, if there is any breach of the representations, warranties