Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 199

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 199
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-owned subsidiary of PBAX and approved the Business Combination and the other transactions and ancillary documents contemplated by and required for the Business Combination; (ii) on a non-binding advisory basis, certain changes to the PBAX Charter, including the name change to CERo Therapeutics Holdings, Inc., share authorizations, and others; (iii) the issuance of Class A Common Stock to Legacy CERo Stockholders pursuant to the Business Combination Agreement; (iv) the election of five directors; and (v) the 2024 Equity Incentive Plan and the 2024 Employee Stock Purchase Plan, contingent of the consummation of the Business Combination. In connection with the approval of the Business Combination, holders of 671,285 shares of Class A Common Stock, exercised redemption rights. As a result, following satisfaction of such redemptions, we had 5,563,297 shares of Class A Common Stock outstanding, of which (i) 82,047 were shares of Class A Common Stock issued to the public in our Initial Public Offering, which shares of Class A Common Stock were entitled to receive a pro rata portion of the remaining funds in our Trust Account in connection with its initial business combination, a liquidation or certain other events, (ii) 4,596,250 were shares of Class A Common Stock issued upon the conversion of an equal number of shares of our Class B Shares acquired by Sponsor prior to our Initial Public Offering, which shares of Class A Common Stock did not have redemption rights, and (iii) 885,000 were shares of Class A Common Stock included in the Private Placement Units acquired in the private placement by the Sponsor and other investors concurrent with our Initial Public Offering, which shares of Class A Common Stock did not have redemption rights. On February 14, 2024, we made a series of payments of an aggregate of $7,456,463.30 to holders of redeemed Class A Common Stock (an aggregate of $11.11 per redeemed share). On February 13, 2024, the parties entered into Amendment No. 2 to the Business Combination Agreement to create two additional pools of earnout shares of class A common stock, one pool of which contained 875,000 shares, which were fully vested at closing of the Business Combination and which were issued as an offset to the agreement by Sponsor to forfeit an offsetting number of shares, and one pool of which will contain 1,000,000 shares, which will be fully vested upon the achievement of