Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 144

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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 the extension, 140,663 shares of the Company’s common stock were redeemed,
with 6,027,219 shares of Common Stock remaining outstanding after the Redemption; 833,469 shares of Common Stock remaining outstanding
after the Redemption are shares issued in connection with our initial public offering. In January 2024, $1,565,078 was paid from the
trust account to redeeming stockholders in connection with the extension.

On January 2, 2024, the Company and Continental
Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment Management Trust Agreement, dated December
20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the Company, to (i) hold the funds in the Company’s
trust account uninvested or (ii) hold the funds in an interest-bearing bank demand deposit account.

On March 21, 2024, the Company held its 2024
Annual Meeting of Stockholders (the “Meeting”). At the meeting, the Company’s stockholders approved the amendment of
the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate a business
combination or, if it fails to do so, cease its operations and redeem or repurchase 100% of the shares of the Company’s common
stock issued in the Company’s initial public offering, from March 22, 2024, monthly for up to six additional months at the election
of the Company and only upon contribution of $0.05 per month per outstanding public share, ultimately until September 22, 2024.

In connection with the meeting, the holders of
95,394 Public Shares properly exercised their right to redeem, with 5,931,825 shares of Common Stock remaining outstanding after
the Redemption; 738,075 shares of Common Stock remaining outstanding after the Redemption are shares issued in connection with the initial
public offering. Consequently, the contribution is $36,904 per month needed for the Company to continue to extend the Combination
Period monthly. On May 8, 2024 and May 31, 2024, the Company made two deposits of $36,904 each for April and May extension contributions.
On September 10, 2024, the Company made a deposit of $112,114, of which $110,174 was for June, July and August extension contributions
and $1,400 for lost interest due