Company: PFSA
Filing Date: 2025-04-03
Form Type: S-4/A
Source: 0001213900-25-028544
Chunk: 183

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: S-4/A
Chunk 183
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 of certain securities, which are referred to as “covered securities.” Our public shares and units qualify as covered securities under such statute. If we were no longer listed on Nasdaq, our securities would not qualify as covered securities under such statute and we would be subject to regulation in each state in which we offer our securities. In addition, the Business Combination is subject to a closing condition, unless waived by the parties thereto, that NorthView shall have at least $5,000,001 of net tangible assets immediately following the closing of the Business Combination (the “Redemption Limitation”), however, such condition has been conditionally waived. Public shareholders who do not elect to redeem their public shares in connection with the Special Meeting, or the shareholder meeting to approve the Business Combination, may be unable to recover their investment except through sales of our shares on the open market or upon our liquidation or redemption of shares. The price of our shares may be volatile, and there can be no assurance that shareholders will be able to dispose of our shares at favorable prices, or at all. NorthView’s stockholders will experience dilution as a consequence of, among other transactions, the issuance of New Profusa Common Stock as consideration in the Business Combination and due to future issuances pursuant to the Equity Incentive Plan. Having a minority share position in New Profusa may reduce the influence that NorthView’s current stockholders have on the management of New Profusa. Immediately after the Closing, assuming no holder of Public Shares exercises its redemption rights, (i) Profusa shareholders will own, collectively, approximately 47.0% of the outstanding New Profusa Common Stock; (ii) NorthView’s public stockholders will retain an ownership interest of approximately 6.2% of the outstanding New Profusa Common Stock; (iii) the Sponsor (and its affiliates) will own approximately 13.6% of the outstanding New Profusa Common Stock, (iv) the Profusa senior secured convertible noteholders will own, collectively, approximately 14.1% of the outstanding New Profusa Common Stock, and (v) other stockholders will own 81 approximately 19.1% of the outstanding New Profusa Common Stock, in each case, on a fully diluted net exercise basis. These indicative levels of ownership interest would amount to approximately 47.3%, 5.8%, 13.6%, 14.2% and 19.1%, respectively, assuming the maximum redemption scenario. If the actual facts are different than