Company: CERO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044335
Chunk: 55

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 55
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ne H. Edminster are the managers.

    (3)
    Chris
    Ehrlich has served as the Chairman and Chief Executive Officer of the Company since December 2024, and previously served as (i) interim
    Chairman and Chief Executive Officer of the Company from October 2024 to November 2024, (ii) Vice Chairman of the board of directors
    of the Company from February 2024 to September 2024, and (iii) the Chief Executive Officer of PBAX until the closing of the Business
    Combination in February 2024.

During the three months ended March 31, 2025 and
for the period from February 14, 2024 to March 31, 2024, the Company incurred a consulting fee of $60,000 and $15,000 to a member of the
Company’s board of directors, respectively.

NOTE 14
– SUBSEQUENT EVENTS

During the period from April
1, 2025 to May 14, 2025, 23 shares of Series B Preferred Stock were converted into 63,281 shares of Common Stock. The conversion ratio
was based on the Series B Certificate of Designations and reflected the applicable Alternate Conversion Price.

During the period from April 1, 2025 to May 14, 2025, 520 shares of
Series C Preferred Stock were converted into 2,080,000 shares of Common Stock. The conversion ratio was based on the Series C Certificate
of Designations and reflected the applicable Alternate Conversion Price.

During the period from April
1, 2025 to May 14, 2025, the Company sold 198,068 shares of Common Stock of the Company pursuant to the New Keystone Purchase Agreement
for net proceeds of $124,353.

On April 9, 2025, the Company
issued 211,000 shares of its common stock in connection with the exercise of pre-funded warrants.

Private Placement

On April 21, 2025, the Company
entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with certain investors. Pursuant to the
Securities Purchase Agreement, up to 10,000 shares of the Company’s Series D Preferred Stock, shall be purchased for an aggregate
purchase price of up to $8 million in one or more closings (each a “Closing”). On April 22, 2025, pursuant to the Securities
Purchase Agreement, the Company issued and sold,