Company: CERO
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001213900-25-079898
Chunk: 69

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 1
Chunk 69
---
 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.

On April 22, 2025, pursuant
to the Fourth Securities Purchase Agreement, the Company issued and sold, and the investors purchased, in a private placement (the “Fourth
PIPE Financing”), 6,250 shares of the Series D Preferred Stock to investors in exchange for the receipt of 1,000,279 shares of the
Stella Series D Preferred Stock in lieu of cash, in which a portion of the Stella Series D Preferred Stock was owned by a related party
investor. The investor is a majority shareholder of Stella Diagnostics, Inc. and has representation on the board of directors thereof.

During
the six months ended June 30, 2025 and for the period from February 14, 2024 to June 30, 2024, the Company incurred a consulting fee
of $83,500 and $35,000 to members of the Company’s board of directors, respectively.

NOTE
14 – SUBSEQUENT EVENTS

On July 11, 2025, the Company entered into an agreement to issue and
sell 12,500,000 shares of Common Stock under the New Keystone Purchase Agreement. As the New Keystone Purchase Agreement constitutes a
continuation of the equity line program commenced under the February 2024 Purchase Agreement, the Commitment Shares issued to the Investor
pursuant to the February 2024 Purchase Agreement shall satisfy in full the Company’s obligation to deliver any additional shares
of Common Stock to the Investor as consideration for entering into the New Keystone Purchase Agreement.

On
July 18, 2025, the Company sold an additional 497 shares of Series D Preferred Stock for gross cash proceeds of $432,600 in an additional
closing.

On
July 18, 2025, 53 shares of Series C Preferred Stock were converted into 10,600 shares of Common Stock. The conversion ratio was agreed
upon by the Company and investor at a conversion price of $5.00 per share, which was lower than the conversion price based on the Series
C Certificate of Designations Alternate Conversion price.

 On August 20, 2025, the Company
and certain investors entered into a Stock Purchase Agreement, pursuant to which the Company sold 1,000,279 Stella D Preferred Stock for
cash proceeds of