Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113117
Chunk: 54

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 54
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During the nine months ended September 30, 2024, the Company sold 10,244
shares for net proceeds of approximately $3.6 million under the Keystone ELOC. The Company sought and received a waiver to sell the shares
below $2,000.00 per share. The Company also issued 807 and 992 shares of common stock to Keystone as consideration for the ELOC in the
three-month period ended September 30, 2024 and the period from February 14, 2024 to September 30, 2024, respectively. The $3.6 million
net proceeds included $933,345 of issuance costs, including issuances of Common Stock as consideration for the ELOC.

On November 8, 2024, the
Company consummated a purchase agreement with Keystone (the “November 2024 Keystone Purchase Agreement”) pursuant to which
we may sell and issue, and Keystone is obligated to purchase, up to $20.6 million of shares of Common Stock, constituting the remaining
unsold balance under the original Keystone Purchase Agreement, subject to certain market conditions. The price of the shares purchased
by Keystone under the ELOC is 90% of various volume-weighted average price (“VWAP”) and closing price-based formulae, and
requires a waiver, should the selling price be below $20.00 per share.

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On July 11, 2025, the Company
entered into an agreement to issue and sell 12,500,000 shares of Common Stock under the New Keystone Purchase Agreement. As the New Keystone
Purchase Agreement constitutes a continuation of the equity line program commenced under the February 2024 Purchase Agreement, the Commitment
Shares issued to the Investor pursuant to the February 2024 Purchase Agreement shall satisfy in full the Company’s obligation to
deliver any additional shares of Common Stock to the Investor as consideration for entering into the New Keystone Purchase Agreement.

During the three months ended
March 31, 2025, the Company sold 14,531 shares of common stock of the Company for net proceeds of $1,227,241 under the November 2024 Keystone
Purchase Agreement. Additionally, in January 2025, the Company received net proceeds of $716,694 from the collection of stock subscription
receivable, which was reflected as a stock subscription receivable on December 31, 2024. The Company sought and received a waiver to sell
the