Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 789

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 789
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 as to whether the Company will seek stockholder approval of a proposed initial
Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The stockholders will be 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 will distribute to investors
who properly redeem their shares will not be reduced by the fee payable to I-Bankers and Dawson James pursuant to the Business Combination
Marketing Agreement (see Note 6).

If
the Company is unable to complete an initial Business Combination within the Combination Period, it will: (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public
shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust account, including interest
(which interest shall be net of taxes payable, and less up to $100,000 of interest to pay dissolution expenses) divided by the number
of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including
the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the Company’s remaining stockholders and its board of directors, dissolve
and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the
requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s
rights and warrants, which will expire worthless if the Company fails to complete the Business Combination within the Combination Period.

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”).

On
December 21, 2023, the Company