Company: CERO
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001213900-25-004742
Chunk: 199

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 199
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 investor counsel. On February 23, 2024, we entered into the Arena Equity Financing with an investor which allows us to elect at our sole discretion to sell and issue, up to the lesser of $25 million or a limit determined by maximum ownership percentages following the termination of the Keystone Equity Financing, including as a result of the sale of the maximum amount permitted under such Keystone Equity Financing or the expiration of the Keystone Equity Financing at the end of its three-year term. As consideration for executing this agreement, we will issue $500,000 of Common Stock with a per share price determined by the five-day volume weighted average daily common share price on the five days preceding the effectiveness of the registration statement that includes the shares pursuant to the purchase agreement. On April 1, 2024, we sold 626 shares of Series B Preferred Stock pursuant to the Second Securities Purchase Agreement for aggregate cash proceeds of approximately $0.5 million. Results of Operations As of December 31, 2023, we had not commenced any operations. All activity through December 31, 2023 relates to our formation, the Initial Public Offering, and since the Initial Public Offering, the search for a prospective initial business combination. We will not generate any operating revenues until after the completion of a business combination, at the earliest. We generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering placed in the Trust Account. For the year ended December 31, 2023, we had a net loss of $2,536,233, which primarily consists of operating expenses of $2,892,935 and Delaware franchise taxes of $40,050, partially offset by the interest earned on marketable securities held in Trust Account of $491,571. For the year ended December 31, 2022, we had a net loss of $667,736, which primarily consists of operating expenses of $2,841,391 and Delaware franchise taxes of $64,050, partially offset by the interest earned on marketable securities held in Trust Account of $2,836,864. 125 Liquidity and Going Concern On October 8, 2021, we consummated the Initial Public Offering of 17,500,000 units (“Units”), at a price of $10.00 per Unit, which included the partial exercise by the underwriter of its over-allotment option in the amount of 2,000,000 Units, generating gross proceeds of $175,000,000.