Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 277

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 277
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and converted into an aggregate of 1,555 shares of Series A Preferred Stock.

Administrative Services

Commencing on October 6,
2021, PBAX paid an amount equal to $20,000 per month to the Sponsor or its affiliate or designee for office space, administrative and
shared personnel support services provided to PBAX. Such administrative support services ended on December 31, 2022.

Advisory Services

We engaged CCM, an affiliate
of PBAX, the Sponsor and/or certain of its directors and officers, to provide consulting and advisory services in connection with the
IPO, for which it was entitled to a fee in an amount equal to $465,000, which was paid to CCM upon the closing of the IPO, and $1,162,500,
which would have been paid to CCM upon the Closing. In connection with the Closing, PBAX entered into a fee modification agreement with
CCM pursuant to which CCM forfeited such fees and we issued an aggregate of 1,200,000 shares of Common Stock, with 1,000,000 of such
shares being subject to forfeiture unless we conduct a capital-raising transaction within nine months of the Closing, pursuant to which
we shall issue and sell securities in an aggregate amount of at least $25.0 million, affiliates of CCM have and manage investment vehicles
with a passive investment in the Sponsor.

CERo Relationships and Related Party Transactions

Collaboration and Option Agreement

On March 3, 2020, Legacy
CERo entered into a collaboration and option agreement (“Collaboration Agreement”) with a collaborative partner that was
an investor of Legacy CERo, pursuant to which each party was granted a royalty-free, nonexclusive, worldwide license to share the other
party’s technologies to create bi-functional T-cells. Legacy CERo was responsible for all employee and other internal costs
incurred in the performance of all of Legacy CERo’s R&D activities, with approved cost overruns funded by the collaborative
partner. At the end of the research project, the collaborative partner would be granted the option to enter into an exclusive license
for the further development of the combined drug. Under the Collaboration Agreement, the collaborative partner paid us $182,577 and $0
for the years ended December 31, 2022 and 2023. The Collaboration Agreement terminated on March 3, 2023.

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