Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 393

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 393
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TA Amendment”) to the IMTA, as amended by the First IMTA Amendment and the Second IMTA Amendment,
and an amendment (the “Third Charter Amendment”) to the Charter, as amended by the First Charter Amendment and the Second
Charter Amendment, to extend the business combination period up to three times for one month each time (the “Third Extension”).

In connection with the approval of the Third Extension,
the Sponsor deposited $22,600 in the Trust Account, and holders of 11,625 Public Shares exercised redemption rights requiring the Company
to make a series of payments of an aggregate of $128,133 for an aggregate $11.02 per redeemed share. As a result, following satisfaction
of such redemptions, the Company had 6,234,582 shares of Class A common stock outstanding, of which (i) 753,332 were Public Shares, which
were entitled to receive a pro rata portion of the remaining funds in the Company’s Trust Account in connection with its initial
Business Combination, a liquidation or certain other events, (ii) 4,596,250 were Class A common stock issued upon the conversion of an
equal number of shares of the Class B common stock, which did not have redemption rights, and (iii) 885,000 were Private Placement Shares,
which did not have redemption rights. As a result of the deposit described above, such payments and accrual of interest, the balance
in the trust account as of the last extension payment was approximately $8.4 million.

<div align='center'>F-45

PHOENIX BIOTECH ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2023</div>

Business Combination

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 shall be reset from $12.50 to 125% of the
reset Conversion Price of the Series A Preferred Stock and (b) the trading price condition for the Second Level Earnout Target shall
be reset from $15.00 to 150% of the reset Conversion Price of the Series A Preferred Stock, and (iii) increase the aggregate number of
shares of Class A common stock issuable to the stock