Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 865

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 865
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 not be
transferable, assignable or salable by our initial stockholders until 30 days after the completion of our initial business combination.
Since our initial stockholders and officers and directors may directly or indirectly own common stock and warrants following our initial
public offering, our officers and directors may have a conflict of interest in determining whether a particular target business is an
appropriate business with which to effectuate our initial business combination.

●Our
officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention
or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our
initial business combination.

●Our
initial stockholders, officers or directors may have a conflict of interest with respect to evaluating a business combination and financing
arrangements as we may obtain loans from our initial stockholders or an affiliate of our initial stockholders or any of our officers
or directors to finance transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such loans
may be, at the option of the lender, convertible into placement warrants at a price of $1.00 per warrant. Such units would be identical
to the private placement warrants, including as to exercise price, exercisability and exercise period.

●Our
initial stockholders, officers and directors may be owed reimbursement for expenses incurred in connection with certain activities on
our behalf which would only be repaid if we complete an initial business combination.

●Our
officers and directors may be paid consulting, finder or success fees for assisting us in consummating our initial business combination.

55

The conflicts described above
may not be resolved in our favor.

In general, officers and directors
of a corporation incorporated under the laws of the State of Delaware are required to present business opportunities to a corporation
if:

●the
corporation could financially undertake the opportunity;

●the
opportunity is within the corporation’s line of business; and

●it
would not be fair to the corporation and its stockholders for the opportunity not to be brought to the attention of the corporation.

We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our initial stockholders, officers or directors. In the
event we seek to complete our initial business combination with such a company, we, or a committee of independent directors, would obtain
an opinion from an independent investment banking firm which is a member of FINRA