Company: PFSA
Filing Date: 2025-05-09
Form Type: S-4/A
Source: 0001213900-25-041151
Chunk: 178

Company: Profusa, Inc.
Filing Date: 2025-05-09
Form: S-4/A
Chunk 178
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 not be able to return to its public stockholders at least $10.00 per share. Our securities were suspended from trading and delisted from Nasdaq on December 27, 2024, following receipt of a delisting determination letter from Nasdaq on December 20, 2024. This could have significant material adverse consequences on us and our securities, including that it will negatively impact our ability to complete a Business Combination, will limit investors’ ability to make transactions in our securities and could subject us to additional trading restrictions. We currently have up until June22, 2025 to complete an initial business combination. Nasdaq Listing Rule 5815, which was amended effective October7, 2024, provides for the immediate suspension and delisting upon issuance of a listing determination letter for failure to meet the requirement in Nasdaq Listing Rule IM 5101 -2(b), curtailing the ability of the Nasdaq hearings panel to give special purpose acquisition companies (SPACs) more time to complete an initial business combination beyond 36months. Nasdaq Listing Rule IM 5101 -2(b) requires a SPAC such as us to complete its initial business combination within 36months of the effectiveness of its IPO registration statement, which, in our case, was December20, 2024. As such, following December20, 2024 (our 36 -monthanniversary), we are no longer in compliance with Nasdaq listing rules. On December20, 2024, we received a delisting determination letter from Nasdaq. As a result, our securities were immediately suspended from trading and delisted from Nasdaq on December27, 2024. Our securities are currently traded on OTC Pink. In addition, in connection with any initial business combination, we would be required to demonstrate compliance with the applicable exchange’s initial listing requirements, which are more rigorous than the continued listing requirements, in order to list New Profusa’s securities on Nasdaq. We cannot assure you that we will be able to meet those initial listing requirements at that time, particularly if we are no longer listed on a stock exchange. Following the suspension and delisting of our securities from Nasdaq, we and our securities are currently facing significant material adverse consequences, including: •being less attractive to potential business combination targets and therefore making it more difficult for us to complete an initial business combination; •a decreased ability to issue additional securities or obtain additional financing in the future; •a limited availability of market quotations for our securities, even if our securities