Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 68

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 68
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 due to the imposition of legal proceedings that a party may bring or due to other circumstances that are currently
unknown), then pursuant to Section 174 of the DGCL, the statute of limitations for claims of creditors could then be six years after the
unlawful redemption distribution, instead of three years, as in the case of a liquidation distribution.

We may not hold an annual meeting of stockholders
until after our consummation of a business combination and you will not be entitled to any of the corporate protections provided by such
a meeting.

In accordance with the Nasdaq
corporate governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year end following
our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for the purposes
of electing directors in accordance with a company’s bylaws unless such election is made by written consent in lieu of such a meeting.
We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business combination,
and thus, we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders
want us to hold an annual meeting prior to our consummation of a business combination, they may attempt to force us to hold one by submitting
an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

33

We did not register the shares of common stock
issuable upon exercise of the warrants under the Securities Act or any state securities laws at the time of our IPO, and such registration
may not be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its warrants
except on a cashless basis and potentially causing such warrants to expire worthless.

We did not register the shares
of common stock issuable upon exercise of the warrants under the Securities Act or any state securities laws at the time of our IPO. However,
under the terms of the warrant agreement, we have agreed, as soon as practicable, but in no event later than 15 business days after the
closing of our initial business combination, we will use our reasonable best efforts to file, and within 60 business days after the closing
of our initial business combination, to have declared effective, a registration statement relating to the common stock issuable upon