Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 134

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 134
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 of shares of Class A Common Stock obtained by dividing the warrant as-if-exercised liquidation preference by $10.00, with the exercise price equal to the total Legacy CERo warrant exercise amount divided by the number of shares of Common Stock issuable upon exercise. |

| 8. | The Convertible Bridge Notes automatically converted into shares of Series A Preferred Stock, at a conversion price equal to $750 per share. |

CERo issued, transferred from the Sponsor, or reserved for issuance an aggregate of 8.4 million shares of Class A Common Stock to the holders of Legacy CERo common stock and Legacy CERo preferred stock or reserved for issuance upon exercise of Legacy CERo options or warrants as consideration in the Business Combination. In connection with the Business Combination, PBAX changed its name to “CERo Therapeutics Holdings, Inc.” The unaudited pro forma condensed combined financial information has been prepared using the assumptions below: On June 4, 2023, Legacy CERo entered into a bridge financing agreement (the “Bridge Financing”) in anticipation of Legacy CERo completing the Business Combination with PBAX pursuant to a definitive Business Combination Agreement. On June 6, 2023, Legacy CERo sold the Convertible Bridge Notes with an aggregate principal amount of $605,230 to certain eligible participants. The Convertible Bridge Notes were automatically converted (principal and accrued interest) upon the Business Combination into an aggregate of 630 shares of Series A Preferred Stock at conversion rate of $1,000 per share, and all of the Convertible Bridge Notes were retired. An additional 1,000,000 shares of restricted Common Stock were issued to select Legacy CERo stockholders and Convertible Bridge Note investors and a corresponding 1,000,000 shares of Common Stock held by the Sponsor have been restricted. Upon the filing of an investigational new drug (“IND”) application with the FDA, the restrictions upon the shares of Common Stock issued to such Legacy CERo stockholders and Convertible Bridge Note investors will be removed, and the shares of Common Stock held by the Sponsor will be retired. Should CERo fail to file an IND with the FDA, the shares of Common Stock issued to such Legacy CERo stockholders and Convertible Bridge Note investors will be retired and the restrictions on the Sponsor’s Common Stock will be removed. Of the 2,000,000 shares of Common Stock held by Sponsor, 250,000 shares were transferred to a key investor