Company: PFSA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001213900-25-021270
Chunk: 36

Company: Profusa, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 36
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Non-U.S. Holder” is a beneficial
owner (other than a partnership) that so redeems its common stock of the Company and is not a U.S. Holder.

Redemption of Common Stock

The characterization for United States federal income tax purposes
of the redemption of a Non-U.S. Holder’s common stock generally will correspond to the United States federal income tax
characterization of such a redemption of a U.S. Holder’s common stock, as described under “U.S. Federal Income
Tax Considerations to U.S. Holders.”

Non-U.S. Holders of our common stock considering exercising their
redemption rights should consult their own tax advisors as to whether the redemption of their common stock of the Company will be treated
as a sale or as a distribution under the Code.

Gain or Loss on a Redemption of Common Stock Treated as a Sale

If the redemption qualifies as a sale of common stock, a Non-U.S. Holder
generally will not be subject to United States federal income or withholding tax in respect of gain recognized on a sale of its
common stock of the Company, unless:

| ● | the gain is effectively connected with the conduct of                                   
 a trade or business by the Non-U.S. Holder within the United States (and, under         
 certain income tax treaties, is attributable to a United States permanent establishment 
 or fixed base maintained by the Non-U.S. Holder), in which case the Non-U.S. Holder     
 will generally be subject to the same treatment as a U.S. Holder with respect to the    
 redemption, and a corporate Non-U.S. Holder may be subject to the branch profits tax    
 at a 30% rate (or lower rate as may be specified by an applicable income tax treaty);   |

| ● | the Non-U.S. Holder is an individual who is present                                   
 in the United States for 183 days or more in the taxable year in which the redemption 
 takes place and certain other conditions are met, in which case the Non-U.S. Holder   
 will be subject to a 30% tax on the individual’s net capital gain for the year; or    |

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Taxation of Distributions

If the redemption does not qualify as a sale of common stock, the
Non-U.S. Holder will be treated as receiving a distribution. In general, any distributions we make to a Non-U.S. Holder of
shares of our common stock, to the extent paid out of our current or accumulated