Company: CERO
Filing Date: 2025-07-21
Form Type: S-1
Source: 0001213900-25-066152
Chunk: 317

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-07-21
Form: S-1
Chunk 317
---
:

| Number of shares of Common Stock                                                                                    |     |   |      2,500 |
|:--------------------------------------------------------------------------------------------------------------------|:----|:--|-----------:|
| Multiplied by PBAX’s share price, as of the Closing                                                                 |     | $ |  11,700.00 |
| Total                                                                                                               |     | $ | 29,250,000 |
| Fair value of PBAX founder’s shares converted to shares of Common Stock and transferred to Predecessor stockholders |     | $ |  5,118,750 |
| Fair value of contingent Common Stock consideration                                                                 |     | $ | 12,870,000 |
| Total Common Stock consideration                                                                                    |     | $ | 47,238,750 |
| Assumed liabilities                                                                                                 |     |   |  3,311,153 |
| Total purchase price                                                                                                |     | $ | 50,549,903 |

The allocation of the purchase price was as follows:

| Cash                                                              |     | $ |    963,855 |   |
| Net working capital deficit (excluding cash and cash equivalents) |     |   | (1,819,514 | ) |
| Fixed assets                                                      |     |   |    929,346 |   |
| Acquired in-process research and development                      |     |   | 45,640,000 |   |
| Net assets acquired                                               |     |   | 45,713,687 |   |
| Loss on consolidation of VIE                                      |     |   |  4,836,216 |   |
| Total purchase price                                              |     | $ | 50,549,903 |   |

F-13

In connection with the Merger,
the transactions that occurred concurrently with the closing date of the Merger were reflected “on the line”. “On the
line” describes those transactions triggered by the consummation of the Merger that are not recognized in the consolidated financial
statements of the Predecessor nor the Company as they are not directly attributable to either period but instead were contingent on the
Merger. The opening cash balance in the consolidated statement of cash flow of $ million consists of $ million from PBAX and $
million from Predecessor.

|                                                                                    |     | Convertible     
 Preferred Stock 
 Series A        
 Shares          |        |     | Amount |           |     | Series A     
 Common Stock 
 Shares       |       |   |     | Amount |   |     | Additional 
 Paid-in