Company: CERO
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001213900-25-004742
Chunk: 196

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 196
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 2024, we made a series of payments of an aggregate of $128,133 to holders of redeemed Class A Common Stock (an aggregate of $11.02 per redeemed share). On February 5, 2024, the parties entered into Amendment No. 1 to the Business Combination Agreement to, among other things, (i) remove the minimum cash condition, (ii) modify the stock-price based milestones such that (a) the trading price condition for the First Level Earnout Target (as defined in the Business Combination Agreement) shall be reset from $12.50 to 125% of the conversion price of the Series A Preferred Stock upon the reset of such conversion price and (b) the trading price condition for the Second Level Earnout Target shall be reset from $15.00 to 150% of the conversion price of the Series A Preferred Stock upon reset of such conversion price, and (iii) increase the aggregate number of shares of Class A Common Stock issuable to the stockholders of CERo in connection with the Business Combination from 4,651,704 shares to 5,000,000 shares. Such number of shares is in addition to up to 1,200,000 shares issuable upon satisfaction of certain earn-out conditions and 382,651 shares issuable upon exercise of rollover options or warrants. On February 8, 2024, we held a special meeting of stockholders (the “Fourth Special Meeting”). At the Fourth Special Meeting, our stockholders adopted and approved: (i) the Business Combination Agreement, pursuant to which Merger Sub merged with and into Legacy CERo, with Legacy CERo surviving the merger as a wholly-owned subsidiary of PBAX and approved the Business Combination and the other transactions and ancillary documents contemplated by and required for the Business Combination; (ii) on a non-binding advisory basis, certain changes to the PBAX Charter, including the name change to CERo Therapeutics Holdings, Inc., share authorizations, and others; (iii) the issuance of Class A Common Stock to Legacy CERo Stockholders pursuant to the Business Combination Agreement; (iv) the election of five directors; and (v) the 2024 Equity Incentive Plan and the 2024 Employee Stock Purchase Plan, contingent of the consummation of the Business Combination. In connection with the approval of the Business Combination, holders of 671,285 shares of Class A Common Stock, exercised redemption rights. As a result, following satisfaction of