Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 233

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 233
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 stockholder’s counsel. Although we believe this provision benefits us by providing increased consistency
in the application of Delaware law in the types of lawsuits to which it applies, a court may determine that this provision is unenforceable,
and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and officers, although
our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

Notwithstanding the foregoing,
our amended and restated certificate of incorporation provides that the exclusive forum provision will not apply to suits brought to enforce
a duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Section 27
of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange
Act or the rules and regulations thereunder. Although we believe this provision benefits us by providing increased consistency in the
application of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against
our directors and officers.

37

Our warrants are accounted for as warrant liabilities
and recorded at fair value upon issuance with changes in fair value each period reported in earnings, which may make it more difficult
for us to consummate an initial business combination.

Following the consummation
of our IPO and the concurrent private placement of warrants, we issued an aggregate of 17,404,250 warrants. We accounted for these as
a warrant liabilities and recorded at fair value upon issuance any changes in fair value each period reported in earnings as determined
by us. Potential targets may seek a business combination partner that does not have warrants that are accounted for as warrant liabilities,
which may make it more difficult for us to consummate an initial business combination.

General Risks

We are a newly formed company with no operating
history and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.

We are a newly formed company
with no operating results, and did not commence operations until obtaining funding through our initial public offering. Because we lack
an operating history, you have no basis upon which to evaluate our ability to achieve our business objective of completing our initial
business combination with one or more target businesses. We have no plans, arrangements or understandings with any prospective target
business concerning a business combination and may be unable to complete our initial business combination. If we fail to complete our
initial business combination