Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 99

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 Company must consummate its initial Business Combination
to March 22, 2025. In connection with the approval of the extension amendment, holders of 50,556 shares of the Company’s
common stock exercised their right to redeem, with 5,881,269 shares of common stock remaining outstanding after the redemption; 687,519
shares of common stock remaining outstanding after the redemption are Public Shares. Consequently, the contribution is $34,376 per
month needed for the Company to continue to extend the Combination Period monthly. On December 13, 2024, the Company made a deposit of
$68,752 for the October and November extension contributions and on December 23, 2024, the Company made a deposit of 34,376 for the December
extension contribution. In October 2024, $595,439 was paid from the trust account to redeeming stockholders in connection with the extension.
On February 27, 2025, the Company made a deposit of $49,376 for the January extension contribution and a portion ($15,000) of the February
extension contribution. On March 7, 2025, the Company deposited the remainder of the February extension contribution of $19,376, plus
interest.

On March 18, 2025, the Company commenced a special
meeting of stockholders, which was adjourned until March 21, 2025 without conducting any business. On March 21, 2025, the Company reconvened
the meeting and the stockholders approved the extension of the business combination period until June 22, 2025. In connection with the
approval of the extension amendment, holders of 532,958 shares of the Company’s common stock exercised their right to
redeem, for an aggregate redemption amount of approximately $6.5 million, with 5,348,311 shares of common stock remaining outstanding
after the redemption; 154,561 shares of common stock remaining outstanding after the redemption are Public Shares. As a condition of
the extension, the Company contributed $30,000 to the Trust Account, for the entire extension period, on March 21, 2025. Additionally,
the stockholders at the meeting approved the amendment of the Company’s charter to remove the requirement that prevented the Company
from redeeming public shares to the extent that it would cause the Company’s net tangible assets to be less than $5,000,001 (the
“NTA Requirement”),