Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 139

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 139
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 tax assets as the recoverability of the tax assets is uncertain. The pro forma combined provision for income taxes does not necessarily reflect the amounts that would have resulted had the combined company filed consolidated income tax returns during the period presented. The pro forma basic and diluted earnings per share amounts presented in the unaudited pro forma condensed combined statement of operations are based upon the number of shares of Common Stock outstanding, assuming the Business Combination and related transactions occurred on the beginning of the earliest period presented. Adjustments to Unaudited Pro Forma Condensed Consolidated Combined Balance Sheet: The adjustments included in the unaudited pro forma condensed combined balance sheet as of December 31, 2023 are as follows:

| A. | Reflects                                                                                                 
 the redemption of 671,285 PBAX shares for $7,524,954, reflecting a redemption price of $11.11 per share. |

| B. | Reflects                                                                                                                         
 the reclassification of PBAX’s remaining 82,047 shares from redeemable to permanent equity and reclassification of the remaining 
 $911,357 from the restricted cash held in trust to cash.                                                                         |

| C. | Reflects                                                                                                                               
 the automatic conversion of $605,230 of principal and $27,636 of accrued interest into 631 shares of Series A Preferred Stock based on 
 the final terms of the Bridge Financing. This adjustment includes a $5,538 adjustment to retained earnings to reflect the amortization 
 of the remaining debt discount and $2,096 of derivative liabilities associated with the Preferred A conversion features.               |

| D. | Reflects                                                                                                                                    
 the elimination of Legacy CERo’s outstanding equity, exclusive of its preferred shares which is adjusted in (E), comprised of 9,068,899     
 shares of common stock, par value of $0.0001, accumulated deficit of $43,089,821, and a $43,088,914 decrease in additional paid-in capital. |

81

| E. | Reflects                                                                                                                                        
 the Merger Consideration (as defined in the Business Combination Agreement), including the estimated fair value of shares of Class A            
 Common Stock to existing Legacy CERo common stock shareholders, estimated fair value of 4,415,494 shares of Class A Common Stock to existing    
 convertible preferred shareholders (Note 3), estimated fair value of 875,000 shares of Class A Common Stock to existing shareholders            
 for reallocation shares, estimated fair value of 2,200,000 shares of Class A Common