Cero Therapeutics enters securities purchase agreement for up to $8M

CERo Therapeutics (CERO) has entered into a securities purchase agreement for the issuance and sale of securities under a new convertible preferred stock transaction. The gross proceeds to CERo from the offering are expected to be up to $8M, including $5M expected to be received through the investment of securities at the first closing, and up to $3M of cash that may be funded at one or more additional closings, at the election of the investors. CERo intends to use the net proceeds from the offering to take advantage of the two recent FDA IND allowances in liquid and solid tumors and complete the previously announced site activation at MDACC, as well as bring other sites online quickly. The proceeds will also help to address current Nasdaq deficiencies around Shareholders Equity and extend cash on hand to maintain operations and extend runway.