Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 15

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 15
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 1940 Act, and could adversely affect the market price of bitcoin 
 and the market price of our common stock.                                                                                              |

| ● | We may be subject to regulatory developments related to crypto assets and crypto asset markets, which 
 could adversely affect our business, financial condition, and results of operations.                  |

| ● | Our custodially-held bitcoin may become part of the custodian’s insolvency estate if one or more 
 of our custodians enters bankruptcy, receivership or similar insolvency proceedings.             |

Additional Risks Related to Ownership of Profusa Common Stock Following the Business Combination

| ● | There can be no assurance that we will be able to comply with the continued listing standards of Nasdaq, 
 a failure of which could result in a de-listing of our common stock.                                     |

| ● | Future sales, or the perception of future sales, by Profusa shareholders in the public market could cause 
 the market price for Profusa Common Stock to decline.                                                     |

| ● | The grant and future exercise of registration rights may adversely affect the market price of Profusa 
 shares.                                                                                               |

7

| ● | In addition, the shares of Profusa Common Stock reserved for future issuance under the Equity Incentive 
 Plan will become eligible for sale in the public market once those shares are issued.                   |

| ● | Because there are no current plans to pay cash dividends on Profusa Common Stock for the foreseeable future,                           
 you may not receive any return on investment unless you sell Profusa Common Stock for a price greater than that which you paid for it. |

| ● | We may issue additional shares of its common stock or other equity securities without your approval, which 
 would dilute your ownership interests and may depress the market price of Profusa Common Stock.            |

| ● | We may redeem the unexpired NorthView Public Warrants prior to their exercise at a time that is disadvantageous 
 to you, thereby making your warrants worthless.                                                                 |

In addition to the other information contained in (or incorporated by reference into) this prospectus, including the matters addressed under the heading “Cautionary Note Regarding Forward-Looking Statements,” you should carefully consider the following risk factors. The occurrence of one or more of the events or circumstances described in these risk factors, alone or in combination with other events or circumstances, may have a material adverse effect on Profusa’s business, reputation, revenue, financial condition, results of operations and future prospects, in which event the market price of Prof