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Cero Therapeutics Holdings, Inc. (NASDAQ:CERO), currently trading at $9.63 and identified as undervalued according to InvestingPro analysis, amended its securities purchase agreement on Wednesday to include new institutional investors in its ongoing private placement of Series D convertible preferred stock, according to a statement based on a recent SEC filing.
The amendment, executed on June 25, 2025, allows these new investors to purchase shares of Cero’s Series D preferred stock, which can be converted into common stock. This follows the original agreement dated April 21, 2025, with prior institutional investors.
On June 25, the company and certain investors completed an additional closing, issuing 2,315 shares of Series D preferred stock for gross proceeds of approximately $1,852,000. This is in addition to a previous closing on June 5, when Cero sold 938 shares for gross proceeds of about $750,400. InvestingPro data reveals the company’s overall financial health score is rated as WEAK, with analysts setting price targets between $30 and $60. The company’s Series D preferred stock is convertible into common stock, with the rights and preferences detailed in the certificate of designations filed on April 22, 2025.
The shares were sold in a private placement and were not registered under the Securities Act of 1933. The company relied on exemptions for private offerings to accredited investors under Section 4(a)(2) and Rule 506 of the Securities Act, as well as similar exemptions under state laws.
Cero Therapeutics’ common stock and warrants trade on the Nasdaq Capital Market under the symbols CERO and CEROW, respectively. The company is incorporated in Delaware and is classified under biological products.
This information is based on a press release statement and details disclosed in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, CERo Therapeutics has been making significant strides with its lead drug candidate, CER-1236. The U.S. Food and Drug Administration granted Orphan Drug Designation to CER-1236 for treating acute myeloid leukemia (AML), providing the company with benefits such as trial design assistance and potential market exclusivity if approved. Currently in Phase 1 clinical trials, CER-1236 is engineered to enhance T cell capabilities against cancer targets. Additionally, CERo Therapeutics has undergone a one-for-twenty reverse stock split, reducing its outstanding shares significantly, which aligns with its strategic plans following a recent SPAC merger. The company also issued additional Series D Preferred Stock, raising $750,000, with potential for more, to support its clinical programs. D. Boral (OTC:BOALY) Capital upgraded CERo’s stock rating from Hold to Buy, citing confidence in its T cell engineering approach for solid tumors. The firm set a price target of $30, reflecting optimism in the company’s proprietary technology and upcoming clinical trials. These developments underscore CERo’s commitment to advancing its cancer treatment platforms and securing financial resources for future growth.
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