Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 341

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 341
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 Keystone as consideration for the ELOC in the three-month period ended September 30, 2024
and the period from February 14, 2024 to September 30, 2024, respectively.

<div align='center'>F-18</div>

Issuance of Common Stock to Arena Business Solutions Global SPC II, Ltd. (“Arena”) for the Arena ELOC

On February 23, 2024, the Company entered into
a common stock purchase agreement (the “Arena Purchase Agreement”) with Arena, pursuant to which we may sell and issue, and
Arena is obligated to purchase, up to $25,000,000 of Common Stock. The price of the shares purchased by Arena under the ELOC is 90% of
various VWAP and closing price-based formulae, and requires a waiver, should the selling price be below $25.00 per share. As consideration
for Arena commitment to purchase shares of Common Stock pursuant to the Arena Purchase Agreement, the Company issued no shares and 3,456
shares of Common Stock to Arena during the three and nine-month period ended September 30, 2024, respectively. The Company has sold no
shares of Common Stock to Arena under the Arena ELOC in the nine-month period ended September 30, 2024.

NOTE 8 – WarrantS

Accounting for warrants

The Company accounts for warrants as either equity-classified
or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance
in ASC 480 and ASC 815, Derivatives and Hedging. The assessment considers whether the instruments are free standing financial instruments
pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements
for equity classification under ASC 815, including whether the instruments are indexed to the Company’s own common stock and whether
the instrument holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control,
among other conditions for equity classification. This assessment, which requires the use of professional judgment, was conducted at
the time of warrant issuance and as of each subsequent period end date while the instruments are outstanding.

Public Warrants

At September 30, 2024, there were 91,925 Public
Warrants outstanding issuable into 91,925 shares of Common Stock, each with a right to purchase one share of Common Stock for $1,150.00