Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2701

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 2701
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 shares subject to the Company obtaining all necessary stockholder
approvals to issue the shares to Keystone. 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 $100.00
per share. As consideration for Keystone’s commitment to purchase shares of Common Stock pursuant to the Old Keystone Purchase Agreement,
we issued an aggregate of 18,643 shares of Common Stock to Keystone.

On November 8, 2024, the
Company consummated a purchase agreement with Keystone (the “New 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 $1.00 per share.

F-21

For the period from February
14, 2024 through December 31, 2024, the Company sold 453,500 common shares of the Company for gross proceeds of approximately $4.9 million
under the Keystone ELOC. The Company received net proceeds of approximately $4.1 million, and as of December 31, 2024, the Company had
a stock subscription receivable of $716,694, which was collected in January 2025. The Company sought and received a waiver to sell the
shares below the applicable minimum price in the agreement. The Company also issued 18,644 shares of common stock to Keystone as consideration
for the ELOC in the period from February 14, 2024 to December 31, 2024, respectively.

Issuance of Common Stock to Arena Business Solutions Global SPC
II, Ltd. (“Arena”) for the Arena ELOC

On February 23, 2024, the
Company entered into a common stock purchase agreement (the “Arena Purchase Agreement”) with Arena, pursuant to which we may
sell and issue, and Arena is obligated to purchase, up to $25,000,000 of Common Stock. The price of the shares purchased by Arena under
the ELOC is 90% of