Company: CERO
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001213900-25-079898
Chunk: 139

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 139
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 a reverse stock split of our shares of common stock at a ratio of 1-for-20 (the “Reverse
Stock Splits”). The Company’s common stock continued to trade on Nasdaq on a post-split basis under the Company’s existing
trading symbol, “CERO”.

All
of the Company’s historical share and per share information related to issued and outstanding common stock and outstanding options
and warrants exercisable for common stock in these financial statements have been adjusted, on a retroactive basis, to reflect the Reverse
Stock Splits.

Business
Combination Agreement - On June 6, 2023, CERo Therapeutics, Inc. (“Predecessor”), which was incorporated in Delaware
on September 23, 2016, and based in South San Francisco, California, entered into a Business Combination Agreement and Plan of Reorganization
(the “BCA”) with PBCE Merger Sub, Inc., a wholly-owned subsidiary of PBAX, and PBAX, with the surviving operating entity
being named CERo Therapeutics Holdings, Inc., and such transaction, the “Business Combination” or “Merger”.

Going
concern – The accompanying unaudited condensed consolidated financial statements
have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction
of liabilities in the normal course of business. The Company’s ability to continue as a going concern is dependent on its ability
to raise additional capital to fund its research and development (“R&D”) activities and meet its obligations on a timely
basis. As of June 30, 2025, the Company reported approximately $3.2 million of cash and cash equivalents, with an accumulated deficit
of approximately $81.4 million. On February 5, 2025, we entered into a securities purchase agreement (the “SPA”), with participation
from a member of the Company’s board of directors and a single institutional investor, for the purchase and sale of (i) 127,551
shares of our common stock or common stock equivalents in lieu thereof; and (ii) common warrants to purchase up to 127,551 shares of common
stock, at a combined public offering price of $39.20 per share and warrant. In connection with this offering, we received net proceeds
of approximately $4.2 million. Additionally, during the six months ended June 30, 2025, we received net proceeds from the exercise of
the remaining Series A Preferred Warrants