Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2408

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 2408
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 $3.3 million of cash and cash equivalents, with an accumulated deficit of $70.9 million. On February 5, 2025,
the Company entered into a securities purchase agreement (the “SPA”), with participation from a member of the Board and a
single institutional investor, for the purchase and sale of (i) 2,551,020 shares of Common Stock or Common Stock equivalents in lieu thereof;
and (ii) February 2025 Common Warrants to purchase up to 2,551,020 shares of Common Stock at an exercise price of $1.96. In connection
with such offering, the Company received net proceeds of approximately $4.5 million. Additionally, since December 31, 2024, the Company
received net proceeds from the exercise of the remaining Series A Warrants, the collection of subscriptions receivable and equity line
of credit fundings of approximately $2.5 million. Additional funds are necessary to maintain current operations and to continue R&D
activities. However, there can be no assurance that sufficient funding will be available to allow the Company to successfully continue
its R&D activities and planned regulatory filings with the FDA. If the Company is unable to obtain the necessary funds, significant
reductions in spending and the delay or cancellation of planned activities may be necessary. These actions would have a material adverse
effect on the Company’s business, results of operations, and prospects. These conditions raise substantial doubt about the Company’s
ability to continue as a going concern within one year from the date these accompanying financial statements are issued. The accompanying
financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the
amounts and classification of liabilities that might result from the outcome of this uncertainty.

Recent Developments

Reverse Stock Split

At 12:01 a.m. Eastern time
on January 8, 2025, we effected the Reverse Stock Split pursuant to which each 100 shares of our Common Stock outstanding immediately
prior thereto was converted into 1 share of our Common Stock outstanding immediately thereafter.

101

February 2025 Offering

On February 7, 2025, we closed
our reasonable best efforts public offering, with participation from a member of our board of directors and a single institutional investor,
for the purchase and sale of (i) 2,551,020 shares of Common Stock or common stock equivalents in lieu thereof; and (ii) February 2025
Common Warrants to purchase up