Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 391

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 391
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, this individual was under a consulting contract in 2022 to advise on research and clinical strategy as the head of the scientific advisory board, for which the individual was paid $ 50,000in the year ending December 31, 2022 and $ 0in 2023. An investor had a working relationship with the Company under the Collaboration Agreement described in Note 11 and was actively collaborating with the Company in the year ended December 31, 2022. At December 31, 2023, this investor maintained 7.69% of the outstanding and 9.89% of the fully diluted ownership of the Company. NOTE 15 – SUBSEQUENT EVENTS Business Combination On February 5, 2024, the Company, PBAX and Merger Sub entered into Amendment No. 1 to the Business Combination Agreement (the “First BCA Amendment”) to, among other things, (i) remove the minimum cash condition, (ii) modify the stock-price based milestones such that (a) the trading price condition for the First Level Earnout Target (as defined in the First BCA Amendment) shall be reset from $ 12.50to 125% of the reset Conversion Price (as defined in the First BCA Amendment) of the New CERo Series A Preferred Stock (as defined below) and (b) the trading price condition for the Second Level Earnout Target (as defined in the First BCA Amendment) shall be reset from $ 15.00to 150% of the reset Conversion Price of New CERo Series A Preferred Stock, and (iii) increase the aggregate number of shares of PBAX Class A common stock, par value $ 0.0001per share (“Class A common stock”), issuable to the stockholders of the Company in connection with the Business Combination from 4,651,704shares to 5,000,000shares. Such number of shares is in addition to up to 1,200,000shares issuable upon satisfaction of certain earn-out conditions and 382,651shares issuable upon exercise of rollover options or warrants. F-66 CERo Therapeutics, Inc. Notes to Financial Statements

On February 8, 2024, PBAX held a special meeting
of stockholders (the “Fourth Special Meeting”). At the Fourth Special Meeting, PBAX’s stockholders adopted and approved
(i) the Business Combination Agreement, pursuant to which Merger Sub merged with and into the Company, with