Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 201

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 201
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 Preferred Stock, 612,746 Series A Warrants and 2,500 Preferred Warrants pursuant to the First Securities Purchase Agreement for aggregate cash proceeds of approximately $8.0 million, plus additional cash proceeds of $2.0 million on the mandatory exercise of the Preferred Warrants upon the registration of the underlying shares of Common Stock. A portion of the issued Series A Preferred Stock were issued as condition for extinguishment of indebtedness. On February 14, 2024, we entered into the Keystone Equity Financing with an investor which allows us to elect at our sole discretion to sell and issue, up to the lesser of $25 million or a limit determined by maximum ownership percentages. As consideration for executing this agreement, we refunded $1 million of the proceeds of the Series A financing to the investor and $150,000 to investor counsel. On February 23, 2024, we entered into the Arena Equity Financing with an investor which allows us to elect at our sole discretion to sell and issue, up to the lesser of $25 million or a limit determined by maximum ownership percentages following the termination of the Keystone Equity Financing, including as a result of the sale of the maximum amount permitted under such Keystone Equity Financing or the expiration of the Keystone Equity Financing at the end of its three-year term. As consideration for executing this agreement, we will issue $500,000 of Common Stock with a per share price determined by the five-day volume weighted average daily common share price on the five days preceding the effectiveness of the registration statement that includes the shares pursuant to the purchase agreement. On April 1, 2024, we sold 626 shares of Series B Preferred Stock pursuant to the Second Securities Purchase Agreement for aggregate cash proceeds of approximately $0.5 million. Results of Operations As of December 31, 2023, we had not commenced any operations. All activity through December 31, 2023 relates to our formation, the Initial Public Offering, and since the Initial Public Offering, the search for a prospective initial business combination. We will not generate any operating revenues until after the completion of a business combination, at the earliest. We generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering placed in the Trust Account. For the year ended December 31, 2023, we had a net loss of $2,536,233, which primarily consists of operating expenses of $2,892,935 and Delaware franchise taxes of $40,050, partially offset by the interest earned