Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2058

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 2058
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 in Item 12 of Part III of this Annual Report is incorporated herein by reference.

Recent Sales of Unregistered Equity Securities

In February 2024, May 2024
and August 2024, we issued 1,191, 2,504, and 16,139 shares of Common Stock, respectively, to an investor as commitment shares in consideration
for entering into an equity line of credit with us. The issuance of these securities was made pursuant to Section 4(a)(2) of the Securities
Act, and the rules promulgated thereunder, to an accredited investor. As of the date of this Annual Report, we have issued an aggregate
of 744,118 shares of Common Stock to such investor pursuant to the equity line of credit.

In February 2024, we issued
an aggregate of 10,039 shares of Series A Preferred Stock, at a price of $1,000 per share, initially convertible into 10,039 shares of
Common Stock at $10.00 per share, and 2,500 Preferred Warrants, resulting in aggregate consideration to us of approximately $10.0 million.
Such issuance includes 2,185 shares of Series A Preferred Stock, initially convertible into 2,185 shares of Common Stock, that were issued
to certain investors in exchange for consideration consisting of approximately $2.16 million aggregate outstanding principal amount, together
with accrued and unpaid interest thereon of approximately $0.02 million, of certain convertible promissory notes issued in June 2023 by
Legacy CERo and a promissory note issued in December 2022, as amended in December 2023, by PBAX. As additional consideration to certain
investors, we also issued 6,127 Series A Warrants as a structuring fee. In March 2024, with the consent of the applicable investors,
a portion of the shares of Series A Preferred Stock and Series A Warrants transferred to the purchasers of Series B Preferred
Stock described below.

99

In March 2024, we issued
an aggregate of 626 shares of Series B Preferred Stock, at a price of $1,000 per share, initially convertible into 626 shares of Common
Stock at $1,000.00 per share, resulting in aggregate gross proceeds to us of approximately $0.5 million.

In May 2024, we issued 3,456
shares of Common Stock to an investor as commitment shares in consideration for entering into an equity