Company: CERO
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001213900-25-079898
Chunk: 177

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 177
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 under the ELOC is 90% of various volume-weighted average price (“VWAP”) and closing price-based formulae, and
requires a waiver, should the selling price be below $20.00 per share.

During the three months ended March 31, 2025, the Company sold 14,531
common shares of the Company for net proceeds of $1,227,241 under the November 2024 Keystone Purchase Agreement. Additionally, in January
2025, the Company received net proceeds of $716,694 from the collection of stock subscription receivable, which was reflected as a stock
subscription receivable on December 31, 2024. The Company sought and received a waiver to sell the shares below the applicable minimum
price in the agreement.

During the three months ended June 30, 2025, the Company sold 75,064
common shares of the Company for net proceeds of $481,971 under the November 2024 Keystone Purchase Agreement.

Issuance
of Common Stock to Arena Business Solutions Global SPC II, Ltd. (“Arena”) for the Arena ELOC

On
February 23, 2024, the Company entered into a common stock purchase agreement (the “Arena Purchase Agreement”) with Arena,
pursuant to which we may sell and issue, and Arena is obligated to purchase, up to $25,000,000 of Common Stock. The price of the shares
purchased by Arena under the ELOC is 90% of various VWAP and closing price-based formulae, and requires a waiver, should the selling
price be below $500.00 per share. As consideration for Arena commitment to purchase shares of Common Stock pursuant to the Arena Purchase
Agreement, in May 2024, the Company issued 173 shares of Common Stock to Arena valued at $500,000, which is reflected as deferred offering
costs on the accompanying consolidated balance sheet as of June 30, 2025 and December 31, 2024. The Company has sold no shares of Common
Stock to Arena under the Arena ELOC during the six months ended June 30, 2025 and 2024.

Sale
of Pre-funded Warrants and Common Stock

On February 5, 2025, the Company announced the pricing of a reasonable
best efforts public offering (the “Offering”), with participation from a member of the Company’s board of directors
and a single institutional investor, for the purchase and sale of