Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 49

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 49
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 or obtain additional financing in the future. These factors could result in
lower prices and larger spreads in the bid and ask prices for the common stock and/or warrants, could substantially impair the combined
company’s ability to raise additional funds, and could result in a loss of institutional investor interest and fewer development
opportunities for the combined company. However, we note that the ability to meet Nasdaq listing requirements is currently a condition
to closing the business combination with Profusa.

We do not have a specified maximum redemption
threshold. The absence of such a redemption threshold may make it possible for us to complete our initial business combination with which
a substantial majority of our stockholders do not agree.

Our amended and restated certificate
of incorporation does not provide a specified maximum redemption threshold. As a result, we may be able to complete our initial business
combination even though a substantial majority of our public stockholders do not agree with the transaction and have redeemed their shares
or, if we seek stockholder approval of our initial business combination and do not conduct redemptions in connection with our initial
business combination pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our
initial stockholders, including our officers or directors, or their advisors or their affiliates. In the event the aggregate cash consideration
we would be required to pay for all shares of common stock that are validly submitted for redemption plus any amount required to satisfy
cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us, we will
not complete the business combination or redeem any shares, all shares of common stock submitted for redemption will be returned to the
holders thereof, and we instead may search for an alternate business combination.

We may be unable to obtain additional financing
to complete our initial business combination or to fund the operations and growth of a target business, which could compel us to restructure
or abandon a particular business combination.

Although we believe that the
net proceeds of our initial public offering and the sale of the private placement warrants will be sufficient to allow us to complete
our initial business combination, because we have not yet identified any prospective target business we cannot ascertain the capital requirements
for any particular transaction. If the net proceeds of our initial public offering and the sale of the private placement warrants prove
to be insufficient, either because of the size of our initial business combination, the depletion of the available net proceeds in search
of a target business, the obligation to repurchase for cash a