Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 225

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 225
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 that it satisfies the
definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of
public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, but we will use our
best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In no event
will we be required to net cash settle any warrant, or issue securities or other compensation in exchange for the warrants in the event
that we are unable to register or qualify the shares underlying the warrants under applicable state securities laws. If the issuance of
the shares upon exercise of the warrants is not so registered or qualified or exempt from registration or qualification, the holder of
such warrant shall not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In such event, holders
who acquired their warrants as part of a purchase of units will have paid the full unit purchase price solely for the shares of common
stock included in the units. We may not redeem the warrants when a holder may not exercise such warrants. However, there may be instances
in which holders of our public warrants may be unable to exercise such public warrants but holders of our private placement warrants may
be able to exercise such private placement warrants.

The warrants may become exercisable and redeemable
for a security other than the shares of our common stock, and you will not have any information regarding such other security at this
time.

In certain situations, including
if we are not the surviving entity in our initial business combination, the warrants may become exercisable for a security other than
the shares of our common stock. As a result, if the surviving company redeems your warrants for securities pursuant to the warrant agreement,
you may receive a security in a company of which you do not have information at this time. Pursuant to the warrant agreement, the surviving
company will be required to use commercially reasonable efforts to register the issuance of the security underlying the warrants within
fifteen (15) business days of the closing of an initial business combination.

The grant of registration rights to our initial
stockholders and holders of our private placement warrants may make it more difficult to complete our initial business combination, and
the future exercise of such rights