Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 122

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 122
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2024, we received a letter from the staff at Nasdaq notifying us that, because our Common Stock had a closing bid price of $0.10 or less for ten consecutive trading days, it was no longer eligible to rely upon the 180-day cure period set forth in the Bid Price Requirement Letter. In addition, on October 30, 2024, the Company received a letter from the staff at Nasdaq notifying the Company that it had not regained compliance with the continued listing requirement to maintain a minimum market value of $50,000,000 for its listed securities within the 180-day compliance period granted by Nasdaq in May 2024. 66 On July 19, 2024, we also received a letter the MVPHS Letter from Nasdaq notifying the Company that the Market Value of Publicly Held Shares the MVPHS of the Common Stock had been below the minimum of $15,000,000 for the last 30 consecutive business days prior to the date of the MVPHS Letter, per the MVPHS Requirement. Each of the Bid Price Requirement and MVLS Requirement deficiencies results in the commencement of delisting proceedings. However, we attended a hearing before a Nasdaq panel (the “Nasdaq Panel”) on December 17, 2024, at which we submitted a plan to regain compliance with the listing requirements. On January 17, 2025, the Nasdaq Panel granted the Company’s request for an extension of the deadline for regaining compliance with Nasdaq listing requirements to April 22, 2025 (the “Extended Deadline”), subject to certain conditions (the “Nasdaq Conditions”). Pursuant to the Nasdaq Conditions, the Company shall demonstrate compliance with the Bid Price Requirement and apply to transfer its listing to the Nasdaq Capital Market on or prior to January 22, 2025. The Company is also required to satisfy the $2.5 million stockholders’ equity requirement of the Nasdaq Capital Market (the “Stockholders’ Equity Requirement”) on or prior to the Extended Deadline, submit certain plans to Nasdaq and make certain disclosures. The Company intends to apply to transfer its listing to the Nasdaq Capital Market and expects the proceeds of this offering to contribute materially to the satisfaction of the Stockholders’ Equity Requirement. Nevertheless, if the Company is unable to satisfy the Nasdaq Conditions, it is likely that the Company’s securities would be delisted. Such a delisting would likely have a negative effect on the price of the securities and would impair