Company: CERO
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001213900-25-079898
Chunk: 199

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 199
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 Forward Looking Statements”
and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the subsequent
Quarterly Report on Form 10-Q as filed with the SEC. Unless the context otherwise requires, references in this section to “Predecessor”
is intended to mean the business and operations of CERo Therapeutics, Inc. prior to the Merger.

Overview

CERo
Therapeutics, Inc. (the “Predecessor”) was incorporated in Delaware on September 23, 2016, and is based in South San Francisco,
California. Predecessor was focused on developing its therapeutic platform to genetically engineer human immune cells to fight cancer
and did not begin 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.

On
June 4, 2023, Predecessor entered into a Business Combination Agreement (as amended by that certain Amendment No. 1 to the Business Combination
Agreement, dated as of February 5, 2024 and Amendment No. 2 to the Business Combination Agreement, dated as of February 13, 2024, the
“Business Combination Agreement”) by and among PBAX and PBCE Merger Sub, Inc., pursuant to which Merger Sub merged with and
into Predecessor, with Predecessor surviving as a wholly-owned subsidiary of PBAX (the “Merger”). In connection with the
consummation of the Business Combination on February 14, 2024, PBAX changed its corporate name to “CERo Therapeutics Holdings,
Inc.”

At
the effective time of the Merger, (i) each outstanding share of Predecessor common stock, was cancelled and converted into the right
to receive shares of Common Stock; (ii) each outstanding option to purchase Predecessor common stock was converted into an option to
purchase shares of Common Stock, par value $0.0001 per share; (iii) each outstanding share of Predecessor preferred stock, was converted
into the right to receive shares of Common Stock, and (iv) each outstanding warrant to purchase Predecessor preferred stock was converted
into a warrant to acquire shares of Common Stock. In addition, each outstanding Predecessor convertible bridge note was exchanged for
shares of Series A Preferred Stock.

In
addition, the holders of Predecess