Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113117
Chunk: 69

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 69
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 in the condensed consolidated statement of cash flows in accordance
with ASC 230, Statement of Cash Flows.

The Company initially recorded
the earnout liability at estimated fair value using a Monte Carlo analysis and has revalued the earnout liability at each subsequent period.
The Monte Carlo analysis used the following assumptions:

|                             |     | September 30, 
 2025          |          |   |     | February 14   
 2024 to       
 September 30, 
 2024          |                        |
|:----------------------------|:----|:--------------|---------:|:--|:----|:--------------|:-----------------------|
|                             |     | -Successor    |          |   |     | -Successor    |                        |
| Starting share price        |     | $             |    14.60 |   |     |               | $180.00 to $9,800.00   |
| Tranche 1 trigger price     |     | $             | 2,500.00 |   |     |               | $2,500.00 to $6,400.00 |
| Tranche 2 trigger price     |     | $             | 3,000.00 |   |     |               | $3,000.00 to $7,700.00 |
| Contractual term (in years) |     |               |     2.40 |   |     |               | 3.40 to 4.00           |
| Volatility                  |     |               |      100 | % |     |               | 90%                    |
| Risk-free interest rate     |     |               |     3.82 | % |     |               | 3.52% to 4.33%         |

<div align='center'>27</div>

The classification of the fair
value of the earnout liability and derivative liabilities and the change in the fair value measurement using significant inputs (Level
3) for the nine months ended September 30, 2025 (Successor), for the period from January 1, 2024 through February 13, 2024 (Predecessor),
for the three months ended September 30, 2024 (Successor), and for the period from February 14, 2024 through September 30, 2024 (Successor)
for the Company is presented below:

| Preferred stock warrant liability (Predecessor): |     | Level 1 |