Financial Performance - As of December 31, 2022, the company reported a net income of $7,167,738, primarily driven by a gain of $6,358,235 from the change in fair value of warrant liabilities and interest income of $2,579,268 [242]. - As of December 31, 2022, the company had approximately $0.2 million in cash and working capital, with cash used in operating activities amounting to $581,189 for the year [244][245]. - The company incurred $63,387 in administrative service fees for the year ended December 31, 2022, with $25,000 recorded as due to a related party [251]. - The company has no long-term debt or off-balance sheet financing arrangements as of December 31, 2022 [249][250]. Business Operations - The company has not commenced any operations and has generated no operating revenues to date, with all activities related to its formation and initial public offering [241]. - The company expects to incur significant costs in pursuing its initial business combination, with no assurance of success in raising capital or completing the transaction [235]. Merger and Acquisition - The aggregate consideration for the merger with Profusa is based on a pre-transaction equity value of $155,000,000, with an exchange ratio of $10.00 per share [238]. - Profusa stockholders may receive up to an additional 3,875,000 shares of NorthView Common Stock based on achieving specific revenue and stock-price milestones [239]. Regulatory and Compliance - The company has until March 22, 2023, to complete a business combination, with a potential six-month extension, or face mandatory liquidation [248]. - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards [259].
NorthView Acquisition (NVAC) - 2022 Q4 - Annual Report