Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 228

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 228
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 company must consummate its initial business combination. We cannot assure you that we will not seek to amend
our charter or governing instruments in order to effectuate our initial business combination.

Certain agreements related to our initial public
offering may be amended without stockholder approval.

Certain agreements, including
the underwriting agreement relating to our initial public offering, the investment management trust agreement between us and Continental
Stock Transfer & Trust Company, the letter agreements and the registration rights agreement among us and our sponsor, executive officers
and directors, the administrative services agreement between us and our sponsor, and the business combination marketing agreement may
be amended without stockholder approval. These agreements contain various provisions that our public stockholders might deem to be material.
While we do not expect our board of directors to approve any amendment to any of these agreements prior to our initial business combination,
it may be possible that our board of directors, in exercising its business judgment and subject to its fiduciary duties, chooses to approve
one or more amendments to any such agreement in connection with the consummation of our initial business combination. Any such amendment
may have an adverse effect on the value of an investment in our securities.

35

Our initial stockholders control a substantial
interest in us and thus may exert a substantial influence on actions requiring a stockholder vote, potentially in a manner that you do
not support.

Our initial stockholders own
97.1% of our issued and outstanding shares of common stock. Accordingly, they may exert a substantial influence on actions requiring a
stockholder vote, potentially in a manner that you do not support, including amendments to our amended and restated certificate of incorporation
and approval of major corporate transactions. If our initial stockholders purchase any units in our initial public offering or additional
shares of common stock in the aftermarket or in privately negotiated transactions, this would increase their influence.

We may amend the terms of the rights in a manner
that may be adverse to holders of rights with the approval by the holders of at least 65% of the then outstanding rights.

Our rights will be issued
in registered form under a rights agreement between Continental Stock Transfer & Trust Company, as rights agent, and us. The rights
agreement provides that the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct any
defective provision, but requires the approval by the holders of at least 65% of the then outstanding rights to make any change that adversely
affects the interests of the registered holders