Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 335

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 335
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 its name from Phoenix Biotech Acquisition Corporation to CERo Therapeutics Holdings, Inc. F-33 PHOENIX BIOTECH ACQUISITION CORP. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023 At the effective time (the “Effective Time”) of the of the merger between Merger Sub and CERo (the “Business Combination”), (i) each outstanding share of CERo common stock, par value $ 0.0001per share (the “CERo common stock”), will be cancelled and converted into (a) the right to receive a number of shares of Class A common stock, par value $ 0.0001per share (“Class A common stock”), equal to $ 50,000,000, minusthe Aggregate Liquidation Preference (as defined in the Business Combination Agreement), dividedby the Fully Diluted Company Capitalization (as defined in the Business Combination Agreement), dividedby $ 10.00(the “Exchange Ratio”) and (b) the right to receive a portion of up to 2,200,000additional shares of Class A common stock if certain trading price hurdles are achieved or a Change of Control (as defined in the Business Combination Agreement) occurs within four years after the Closing (“Earnout Shares”); (ii) each outstanding option to purchase CERo common stock (each, a “CERo option”) will be converted into an option to purchase a number of shares of Class A common stock, equal to (A) the number of shares of CERo common stock subject to such option immediately prior to the Effective Time, multipliedby (B) the Exchange Ratio, at an exercise price per share equal to the current exercise price per share for such option divided by the Exchange Ratio; in each case, rounded down to the nearest whole share, and rounded up to the nearest whole cent in the case of the exercise price of the CERo options; (iii) each outstanding share of CERo preferred stock, par value $ 0.0001per share (the “CERo preferred stock”), will be converted into a number of shares of Class A common stock, equal to the number of shares of Class A common stock obtained by dividingthe liquidation preference thereof by $ 10.00and the contingent right to receive such holder’s Earn-Out Pro Rata Portion (as defined in the Business Combination Agreement), and (iv) each warrant to purchase CERo preferred stock (each,