secwatch.observer — SEC 8-K summary
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Issuer:     CERO THERAPEUTICS HOLDINGS, INC. (CERO)
CIK:        0001870404
Form:       8-K/A
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001213900-24-017157
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 9.01, 5.02, 3.02, 5.01, 5.03
LLM model:  deepseek-v4-flash:cloud@v2

CERo Therapeutics completes reverse merger with SPAC Phoenix Biotech on Feb 14, 2024, raising $9.98M in PIPE
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- Business combination closed; PBAX renamed to CERo Therapeutics Holdings, Inc.; common stock and warrants trade on Nasdaq as CERO and CEROW.
- PIPE financing raised ~$9.98M via sale of Series A convertible preferred, common warrants, and preferred warrants to accredited investors.
- Equity line of credit with lead investor allows sale of up to ~2.98M shares over 36 months at 90% of VWAP; 119,050 commitment shares issued.
- Consideration included 8.46M shares to CERo stockholders (including 3.08M earnout shares tied to price/milestones) and 1.63M shares to vendors in lieu of $8.54M cash.
- Sponsor forfeited 875K shares at closing; 1.76M shares subject to 180-day lock-up; Promissory Note of $1.55M extinguished.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1870404/000121390024017157/0001213900-24-017157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1870404/000121390024017157/ea193847-8ka1_cerothera.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-017157

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