Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113117
Chunk: 82

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 82
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 for review of the Panel’s decision by the Nasdaq Listing and Hearing
Review Council. On October 31, 2025, the Company’s shares of common stock commenced trading on the OTC Pink Sheets.

Other

Subsequent to September 30, 2025 and through November 19, 2025, 4,448
shares of Series D Preferred Stock were converted into 7,359,955 shares of Common Stock at conversion share prices ranging from $5.36,
the Series D Adjustment Price, down to $0.05 per share.

Subsequent to September 30, 2025 and through November 19, 2025, the
Company sold 12,246,318 shares of Common Stock pursuant to the New Keystone Purchase agreement for gross proceeds of $1,540,290.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations provides information that CERo Therapeutics Holdings, Inc. (“the Company”) management believes is relevant to an assessment and understanding of its results of operations and financial condition. The discussion should be read together with (i) the Company’s unaudited condensed consolidated financial statements and related notes that are presented above and (ii) the Company’s audited consolidated financial statements and related notes and management’s discussion and analysis of financial condition and results of operations included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2025. This Management’s Discussion and Analysis of Financial Condition and Results of Operations may contain forward-looking statements based upon current expectations that involve risks and uncertainties. Actual results may differ materially from those anticipated in these forward-looking statements resulting from various factors. Please see “Cautionary Note Regarding Forward Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the subsequent Quarterly Report on Form 10-Q as filed with the SEC. Unless the context otherwise requires, references in this section to “Predecessor” is intended to mean the business and operations of CERo Therapeutics, Inc. prior to the Merger.

Overview

CERo Therapeutics, Inc. (the
“Predecessor”) was incorporated in Delaware on September 23