Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2121

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 2121
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 holds a five-year lease for laboratory and office space. The lease has escalating contractual rent and variable rent
components and the Company elected to separate the contractual and variable elements for valuing the operating lease liability and right-to-use
asset. The lease does not have any options for extension or expansion. The Company recorded the following lease costs:

    For the period from February 14, 2024 through December 31, 2024 (Successor)  
    For the period from January 1, 2024 through February 13, 2024 (Predecessor)  
    For the year ended December 31, 2023 (Predecessor) 
  
    Operating leases: 

    Operating lease cost 
    $762,057  
    $152,887  
    $930,913 
  
    Variable operating lease cost 
     581,860  
     116,371  
     637,016 
  
    Total lease cost 
    $1,343,917  
    $269,258  
    $1,567,929 

The right-of-use asset, net for the operating lease was recorded in
the consolidated balance sheets as follows:

    December 31,  
    December 31, 

    2024  
    2023 

    (Successor)  
    (Predecessor) 
  
    Right-of-use assets, net 
    $1,464,367  
    $2,189,565 

The operating lease liability for the operating lease was recorded
in the consolidated balance sheets as follows:

     December 31,   December 31,      2024   2023      (Successor)   (Predecessor)   Operating lease liabilities, current  $876,392   $769,092   Operating lease liabilities, non-current   699,107    1,575,499   Total operating lease liabilities  $1,575,499   $2,344,591                Weighted-average remaining lease term of operating leases (in years)   1.75    2.75   Weighted-average discount rate for operating leases   9.60%   9.60% 

F-17

The following table reconciles the undiscounted future minimum lease
payments under the non-cancelable operating lease