Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 413

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 413
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1     | – | Observable inputs such                                                                                      
 as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. |

| Level 
 2     | – | Inputs (other than quoted                                                                                                              
 prices included in Level 1) that are either directly or indirectly observable for the asset or liability. These include quoted         
 prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets 
 that are not active.                                                                                                                   |

| Level 
 3     | – | Unobservable inputs for                                                                                                            
 which there is little or no market data and which require the Company to develop its own assumptions about how market participants 
 would price the asset or liability. Consideration is given to the risk inherent in the valuation technique and the risk inherent   
 in the inputs to the model.                                                                                                        |

Carrying amounts of certain of the Company’s
financial instruments, including cash, restricted cash, and cash equivalents, prepaid expenses and other current assets, accounts payable,
and accrued liabilities approximate fair value due to their relatively short maturities.

Non-financial assets such as property and equipment
are evaluated for impairment and adjusted to fair value using Level 3 inputs only when impairment is recognized. Fair values are
considered Level 3 when management makes significant assumptions in developing a discounted cash flow model based upon a number
of considerations including projections of revenues, earnings, and a discount rate. To date, the Company has not recorded any adjustments
to fair value related to impairment on property and equipment.

<div align='center'>F-57

CERo Therapeutics, Inc.

Notes to Financial Statements</div>

At December 31, 2023 and 2022, the fair value of the Company’s
preferred stock warrant liability (see Note 7 for details) was classified as follows:

|                                   |     | December 31, 2023 |   |     |         |   |     |         |         |     |       |         |
|:----------------------------------|:----|:------------------|:--|:----|:--------|:--|:----|:--------|--------:|:----|:------|--------:|
|                                   |     | Level 1           |   |     | Level 2 |   |     | Level 3 |         |     | Total |         |
| Preferred stock warrant liability |     | $                 | - |     | $       | - |     | $       | 320,