Company: CERO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001213900-25-010230
Chunk: 354

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 354
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 of Class A common stock, equal to $ 50,000,000, minusthe Aggregate Liquidation Preference, dividedby the Fully Diluted Company Capitalization, dividedby the Exchange Ratio and (b) the right to receive Earnout Shares; (ii) each outstanding CERo option will be converted into an option to purchase a number of shares of Class A common stock, equal to (A) the number of shares of CERo common stock subject to such option immediately prior to the Effective Time, multipliedby (B) the Exchange Ratio, at an exercise price per share equal to the current exercise price per share for such option divided by the Exchange Ratio; in each case, rounded down to the nearest whole share, and rounded up to the nearest whole cent in the case of the exercise price of the CERo options; (iii) each outstanding share of CERo preferred stock, will be converted into a number of shares of Class A common stock, equal to the number of shares of Class A common stock obtained by dividingthe liquidation preference thereof by $ 10.00and the contingent right to receive such holder’s Earn-Out Pro Rata Portion, and (iv) each CERo warrant outstanding as of immediately prior to the Effective Time will be converted into a warrant to acquire a number of shares of Class A common stock equal to the number of shares of CERo preferred stock subject to the corresponding warrant immediately prior to the Effective Time, multipliedby the Aggregate Liquidation Preference of such underlying shares of CERo preferred stock, and dividedby $ 10.00, with the exercise price per share for such warrant equal to (A) the current aggregate exercise price of such warrant (the current exercise price per share of CERo preferred stock applicable to the corresponding warrant immediately prior to the Effective Time, multipliedby the number of shares of CERo preferred stock issuable upon exercise thereof), dividedby (B) the number of shares of Class A common stock issuable upon exercise thereof. Subject to certain exceptions, such terms and conditions applicable to a New CERo warrant will be the same terms and conditions as were applicable to a CERo warrant immediately prior to the Effective Time. The Company will issue an aggregate of approximately 5.0million shares of Class A common stock to the holders of CERo common stock and CERo preferred stock as consideration in the Business Combination. F-42 PHOENIX BIOTECH ACQUISITION CORP. NOTES TO FINANC