Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 200

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 200
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 certain regulatory milestone-based earnout targets and make certain other technical changes to the timing and process for issuance of the 1,200,000 shares of Class A Common Stock subject to the other earn-out conditions set forth in the Business Combination Agreement. On February 14, 2024, the Business Combination between Legacy CERo and PBAX was consummated pursuant to the Business Combination Agreement. At the effective time of the Business Combination, (i) each outstanding share of Legacy CERo common stock, (the “Legacy CERo common stock”), was cancelled and converted into the right to receive shares of Class A Common Stock; (ii) each outstanding option to purchase Legacy CERo common stock was converted into an option to purchase shares of Class A Common Stock; (iii) each outstanding share of CERo preferred stock, was converted into the right to receive shares of Class A Common Stock, and (iv) each outstanding warrant to purchase Legacy CERo warrants was converted into a warrant to acquire shares of Class A Common Stock. In addition, each outstanding Legacy CERo convertible bridge note was exchanged for shares of Series A Preferred Stock. 124 In addition, the holders of Legacy CERo common stock and Legacy CERo preferred stock have the contingent right to receive additional shares of Class A Common Stock (the “Earnout Shares”). At the Closing we issued three pools of shares subject to forfeiture if the applicable conditions to transferability thereof are not satisfied: (i) 1,200,000 shares of Class A Common Stock, which will be fully vested upon the achievement of certain adjusted stock price-based earnout targets or upon a qualifying transaction (ii) 875,000 shares of Common Stock, pursuant to a Letter Agreement, dated as of February 14, 2024 (the “Sponsor Share Forfeiture Agreement”) which were fully vested at Closing of the Business Combination and which were issued as an offset to the Sponsor Share Forfeiture Agreement, and (iii) 1,000,000 shares of Common Stock, which will be fully vested upon to achievement of certain regulatory milestone-based earnout targets. As consideration for the Business Combination, we issued to Legacy CERo Stockholders an aggregate of 7,597,638 shares of Class A Common Stock, including 2,200,000 Earnout Shares and 382,651 shares issuable upon exercise of rollover options or warrants. On February 14, 2024, we sold 10,039 shares of Series A