Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 1002

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 10
Chunk 1002
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 liquidation, dissolution and winding
up of the Company to the Series A Convertible Preferred Stock, the Series B Convertible Preferred Stock, and Common Stock. The Company
shall not, without the consent of the Required Holders, authorize or issue any shares of senior rank with respect to the preferences as
to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company, shares of pari passu rank with
respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company,
or shares of junior ranking stock that have a maturity or redemption date prior to the first anniversary of the Series C Preferred Stock
issuance date.

Dividend and Participation Rights: The
holders of Series C Preferred Stock will be entitled to dividends, on an as-if converted basis, equal to and in the same form as dividends
actually paid on shares of Common Stock, when and if actually paid. Series C Preferred Stockholders will be entitled to participate pro
rata in any purchase rights extended to holders of Common Stock on an as-converted basis.

Conversion: Each holder
of Series C Preferred Stock may convert at any time, all, or any part, of the outstanding Series C Preferred Stock into shares of the
Common Stock at the initial “Conversion Price” of $22.40, which is subject to customary adjustments for stock splits.

F-20

Alternate Conversion:
Following the occurrence and during the continuance of a Trigger Event (as defined below), each holder may alternatively elect to
convert the Series C Preferred Stock at the “Alternate Conversion Price” equal to the lesser of the then current Conversion
Price and the greater of $1.96 (the “Series C Conversion Price Floor”) or 80% of the trailing 5-day daily volume weighted
average price of a share of Common Stock. Trigger Events include customary terms related to exchange listing, registration rights, failure
to deliver shares on conversion or exercise of derivative instruments, or insolvency. Notwithstanding the Series C Conversion Price Floor,
if the Series C Conversion Price Floor is greater than 80% of the 5-day volume weighted average price of a share of Common Stock, then
the Conversion Amount (as defined in the Series C Certificate of Designation) for such Series C Preferred Stock is increased by a multiplier
resulting in the convertibility of the shares of Series C Preferred Stock into the number of shares of Common Stock that would have been
issuable if the Alternate Conversion Price had been