Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 384

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 384
---
000 and $650,000 in borrowings under the Working Capital
Loans, respectively.

Consulting Services

The Company entered into an agreement, commencing
on the date of its listing on Nasdaq, to pay the spouse of the Company’s Chief Executive Officer a monthly consulting fee of $15,000
for assisting the Company in identifying and evaluating potential acquisition targets. Upon completion of the Company’s initial
business combination or the Company’s liquidation, the Company’s will cease paying these monthly fees. The payments ended
on December 31, 2022 in connection with the approval of the Charter Amendment. For the year ended December 31, 2023, $0 has been incurred
under this agreement. For the year ended December 31, 2022, $180,000 has been incurred under this agreement, respectively.

Advisory Services

The Company engaged CCM, an affiliate of the Company,
the Sponsor and/or certain of its directors and officers, to provide consulting and advisory services in connection with the IPO, for
which it was entitled to a fee in an amount equal to $465,000, which was paid to CCM upon the closing of the IPO, and $1,162,500, which
will be paid to CCM upon the closing of the Company’s initial business combination. Affiliates of CCM have and manage investment
vehicles with a passive investment in the Sponsor.

<div align='center'>F-41

PHOENIX BIOTECH ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2023</div>

Support Services

The Company entered into an agreement, commencing
on the date of its listing on Nasdaq through the earlier of the consummation of a business combination and the Company’s liquidation,
to pay an affiliate of the Sponsor a monthly fee of $20,000 for office space, secretarial and administrative services. Payments under
the agreement were suspended on December 31, 2022 and reinstated on March 31, 2023. For the year ended December 31, 2023, $200,000 has
been incurred under this agreement. For the year ended December 31, 2022, $240,000 has been incurred under this agreement, respectively.
As of December 31, 2023, there was a $75,000 outstanding balance owed to the Sponsor.

Note 6 — Commitments and Contingencies