Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 379

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 379
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 If the NTA Requirement Amendment Proposal is Approved If the NTA Requirement Amendment Proposal is approved (and the Condition Precedent Proposals are also approved), NorthView shall redeem NorthView’s public shares as necessary and requested by such shareholders, irrespective of whether such redemptions exceed the Redemption Limitation. If we redeem our Public Shares in an amount in excess of the current Redemption Limitation and our securities do not meet Nasdaq’s continued listing requirements, Nasdaq may delist our securities from trading on its exchange. If Nasdaq delists any of our securities from trading on its exchange and we are not able to list such securities on another approved national securities exchange, we expect that such securities could be quoted on an over -the-countermarket. If this were to occur, we could face significant material adverse consequences, including: (i) a limited availability of market quotations for our securities, (ii) reduced liquidity for our securities, (iii) a determination that our public shares are “penny stocks” which will require brokers trading in our public shares to adhere to more stringent rules, including being subject to the depository requirements of Rule 419 of the Securities Act, and possibly result in a reduced level of trading activity in the secondary trading market for our securities, (iv) a decreased ability to issue additional securities or obtain additional financing in the future, and (v) a less attractive acquisition vehicle to a target business in connection with an initial Business Combination. The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” NorthView Common Stock and the NorthView Warrants qualify as covered securities under such statute. If we were no longer listed on Nasdaq, our securities would not qualify as covered securities under such statute and we would be subject to regulation in each state in which we offer our securities. Reasons for the Proposed NTA Requirement Amendment NorthView believes that it can rely on other available exclusions from the penny stock rules, more specifically, the Exchange Rule, that would not impose restrictions on NorthView’s net tangible assets. While NorthView does not believe this failure to satisfy the NTA Requirement subjects it to the SEC’s penny stock rules, as the NTA Requirement is included in its Charter, if the NTA Requirement Amendment proposal is not approved, NorthView may not be able to consummate its initial business combination. In the event the NTA Requirement Amendment is approved, then NorthView will