Company: CERO
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001213900-25-004742
Chunk: 197

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 197
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 such redemptions, we had 5,563,297 shares of Class A Common Stock outstanding, of which (i) 82,047 were shares of Class A Common Stock issued to the public in our Initial Public Offering, which shares of Class A Common Stock were entitled to receive a pro rata portion of the remaining funds in our Trust Account in connection with its initial business combination, a liquidation or certain other events, (ii) 4,596,250 were shares of Class A Common Stock issued upon the conversion of an equal number of shares of our Class B Shares acquired by Sponsor prior to our Initial Public Offering, which shares of Class A Common Stock did not have redemption rights, and (iii) 885,000 were shares of Class A Common Stock included in the Private Placement Units acquired in the private placement by the Sponsor and other investors concurrent with our Initial Public Offering, which shares of Class A Common Stock did not have redemption rights. On February 14, 2024, we made a series of payments of an aggregate of $7,456,463.30 to holders of redeemed Class A Common Stock (an aggregate of $11.11 per redeemed share). On February 13, 2024, the parties entered into Amendment No. 2 to the Business Combination Agreement to create two additional pools of earnout shares of class A common stock, one pool of which contained 875,000 shares, which were fully vested at closing of the Business Combination and which were issued as an offset to the agreement by Sponsor to forfeit an offsetting number of shares, and one pool of which will contain 1,000,000 shares, which will be fully vested upon the achievement of certain regulatory milestone-based earnout targets and make certain other technical changes to the timing and process for issuance of the 1,200,000 shares of Class A Common Stock subject to the other earn-out conditions set forth in the Business Combination Agreement. On February 14, 2024, the Business Combination between Legacy CERo and PBAX was consummated pursuant to the Business Combination Agreement. At the effective time of the Business Combination, (i) each outstanding share of Legacy CERo common stock, (the “Legacy CERo common stock”), was cancelled and converted into the right to receive shares of Class A Common Stock; (ii) each outstanding option to purchase Legacy CERo common stock was converted into an option to purchase shares of Class A Common Stock; (iii) each outstanding share of CERo