Company: CERO
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112619
Chunk: 304

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 304
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. 1 to the Securities Purchase Agreement (the “SPA Amendment”)
to add an additional Buyer (as defined in the Fifth Securities Purchase Agreement) and increase the size of the Initial Closing (as defined
in the Fifth Securities Purchase Agreement) by $500,000 to an aggregate of approximately $2.25 million of gross proceeds and reduce the
size of the Additional Closings (as defined in the Fifth Securities Purchase Agreement) by an offsetting amount. There was no change to
the aggregate amount of up to $7 million of proceeds to be funded pursuant to the Fifth Securities Purchase Agreement upon consummation
of all of the Closings (as defined in the Fifth Securities Purchase Agreement) provided for therein. On October 16, 2025, pursuant to
the Fifth Securities Purchase Agreement, we issued and sold, and the PIPE Investors purchased 3,816 shares of the Series E Preferred Stock
for aggregate proceeds of approximately $2.25 million, paid in cash. Each Additional Closing under the Fifth Securities Purchase Agreement
is subject to a mutual option of the Company and certain PIPE Investors and satisfaction of customary closing conditions. The Fifth Securities
Purchase Agreement includes the consent of the holders of the Company’s outstanding Series C and Series D convertible preferred
stock to the issuance of the Series E Preferred Stock pari passu therewith, in consideration for the reduction of the conversion
price for the Company’s outstanding Series C and Series D convertible preferred stock to $1.76, effective as of the date of the
Fifth Securities Purchase Agreement.

Nasdaq Notices of Non-compliance
and Nasdaq Panel Decision

As previously disclosed,
on January 17, 2025, the Company received a letter setting forth the determination of a panel convened by Nasdaq (the “Nasdaq Panel”)
granting the Company’s request for an extension (the “Extension”) to regain compliance with certain continued listing
requirements of the Nasdaq Stock Market until April 22, 2025. The Company presented its plan (the “Plan”) for regaining compliance
with such requirements at a hearing conducted on December 17, 2025. The Company’s Plan included completion of a reverse stock split,
which occurred on January 8, 2025, and transferring the listing of its securities to the Nasdaq Capital Market, which was completed on
February 12, 2025, and certain other conditions, including the satisfaction of the $2.5 million minimum stockholders’ equity requirement
for continued