Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 382

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 382
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 (the “Business Combination”), pursuant to the Business Combination Agreement, dated as of June 4, 2023, as amended
from time to time (as amended, the “Business Combination Agreement”) by and among the Company, Phoenix Biotech Acquisition
Corp. (“PBAX”) and PBCE Merger Sub, Inc. (“Merger Sub”), the outstanding convertible preferred stock converted
to CERo Therapeutics Holdings, Inc. (“New CERo”) common stock at a conversion ratio equal to and shares of New
CERo common stock, par value $ per share (“New CERo Common Stock”) for each share of Series Seed convertible preferred
stock (“Series Seed Preferred Stock”) and Series A convertible preferred stock (“Series A Preferred Stock”),
respectively, resulting in the issuance of and common shares for the Series Seed Preferred Stock and Series A Preferred
Stock, respectively (see Note 15).

|             |     | Shares authorized |            |     | Shares      
 issued and  
 outstanding |            |     | Liquidation amount |            |
|:------------|:----|:------------------|-----------:|:----|:------------|-----------:|:----|:-------------------|-----------:|
| Series Seed |     |                   |  5,155,703 |     |             |  5,155,703 |     | $                  |  4,154,981 |
| Series 1    |     |                   |        100 |     |             |          - |     |                    |          - |
| Series A    |     |                   | 24,614,402 |     |             | 22,764,764 |     |                    | 39,999,967 |
|             |     |                   | 29,770,205 |     |             | 27,920,467 |     | $                  | 44,154,948 |

Series 1 Convertible Preferred Stock – The
Company issued shares of Series 1 preferred stock (“Series 1 Preferred Stock”) in 2018, which was subsequently converted
on November 14, 2019 into shares of Series A Preferred Stock. There were no shares of Series 1 Preferred Stock outstanding in
the years ended December 31, 2023 or 2022.

Series Seed and Series A Preferred Stock –
Holders have various rights and preferences as follows:

Voting rights – The holders of convertible
preferred stock are entitled to vote on all matters on which