Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 297

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 297
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 common shares to Arena Investors LP for equity line of credit                              |     | $             |     500,000 |   |     | $             |         - |   |     | $                  |          - |   |

See accompanying notes to the condensed consolidated financial statements. F-6 CERO THERAPEUTICS HOLDINGS, INC.
Notes to Condensed CONSOLIDATED Financial Statements

NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Nature of Operations – CERo Therapeutics
Holdings, Inc. F/K/A Phoenix Biotech Acquisition Corp. (NASDAQ: PBAX, “PBAX”) was incorporated in Delaware on June 8, 2021.
PBAX was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar
business combination with one or more businesses (a “business combination”).

Reverse Stock Split – On January
8, 2025, we effected a reverse stock split of our shares of common stock at a ratio of 1-for-100 (the “Reverse Stock Split”).
The Company’s common stock continued trading on Nasdaq on a post-split basis under the Company’s existing trading symbol,
“CERO.”

All of the Company’s historical share
and per share information related to issued and outstanding common stock and outstanding options and warrants exercisable for common
stock in these financial statements have been adjusted, on a retroactive basis, to reflect the Reverse Stock Split.

Business Combination Agreement - On June
6, 2023, CERo Therapeutics, Inc. (“Predecessor”), which was incorporated in Delaware on September 23, 2016, and based in South
San Francisco, California, entered into a Business Combination Agreement and Plan of Reorganization (the “BCA”) with PBCE
Merger Sub, Inc., a wholly-owned subsidiary of PBAX, and PBAX, with the surviving operating entity being named CERo Therapeutics Holdings,
Inc. (“Successor” or the “Company”), and such transaction, the “Merger”.

The Company is focused on genetically engineering
human immune cells to fight cancer. The Predecessor focused on developing the CERo therapeutic platform and had not yet begun clinical
development or product commercialization. The Company’s efforts will focus on continued product development, including clinical
development, to support regulatory approval to commercialize and subsequent product commercialization.

The BCA was amended on February 5, 202