Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 9

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 be released from
the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of
any public shares properly tendered in connection with a stockholder vote to amend the Company’s amended and restated certificate
of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company
does not complete the initial Business Combination within the extended period (or any additional extension from the closing of our IPO
if we extend the period of time to consummate a business combination) (the “Combination Period”), or (B) with respect to
any other provision relating to stockholders’ rights or pre-Business Combination activity, and (iii) the redemption of all of the
Company’s public shares if the Company is unable to complete the Business Combination within the Combination Period, subject to
applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any,
which could have priority over the claims of the Company’s public stockholders.

5

The Company provided its public stockholders with
the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination in connection
with a stockholder meeting called to approve the initial Business Combination. The decision as to whether the Company will seek stockholder
approval of a proposed initial Business Combination or conduct a tender offer was made by the Company, solely in its discretion. The stockholders
were entitled to redeem all or a portion of their public shares upon the completion of the initial Business Combination at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation
of the initial Business Combination, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding
public shares, subject to the limitations described herein. The per share amount the Company distributed to investors who properly redeemed
their shares was not reduced by the fee payable to I-Bankers and Dawson James pursuant to the Business Combination Marketing Agreement
(see Note 6).

On March 10, 2023, the Company held a vote to
amend its amended and restated certificate of incorporation to extend the date by which the Company must consummate a Business Combination
from March 22, 2023 to December 22, 2023 (the “First Extension Meeting