Recent Updates — CERO
CERO Therapeutics Holdings entered into a Stock Purchase Agreement with SRX Global Inc. to sell its wholly owned operating subsidiary, CERo Therapeutics, Inc. In exchange, CERO will receive $1 million worth of SRX common stock, calculated based on the lower of SRX's prior closing price or 20-day VWAP. The transaction also includes the forgiveness and cancellation of approximately $8.25 million in outstanding principal under a Consolidated Senior Secured Promissory Note, plus accrued interest, fees, and expenses. Additionally, SRX will assume liabilities of approximately $1.56 million. The deal is subject to preferred stockholder consents and includes a 30-day go-shop period for alternative proposals. CERO Therapeutics Holdings operates in the biotechnology sector.
On August 27, 2026, Cero Therapeutics Holdings completed a secured financing transaction with SRX Global Inc., issuing a Consolidated Senior Secured Promissory Note. This note consolidates $5,666,108.77 in previous unsecured debt held by SRX and Keystone Capital Partners into a single secured obligation. The agreement allows for additional advances up to $6,000,000, bringing the maximum aggregate loan amount to $11,666,108.77. An initial advance of $775,665 was funded on the execution date, net of a $50,000 legal fee reimbursement. The note bears interest at 10% per annum, increasing to 24.99% upon default, with principal due by October 15, 2026. SRX holds a first-priority security interest in the subsidiary's capital stock and assets, including intellectual property related to CER-1236. The company operates in the biotechnology industry, focusing on cell therapy treatments.
On July 14, 2026, Cero Therapeutics Holdings, Inc. entered into a second amended and restated promissory note with SRX Global Inc. The agreement allows for a maximum aggregate borrowing of $2,085,200. To date, the company has drawn $750,000 from the original note, $663,600 on June 23, 2026, and $671,600 on July 14, 2026. The note carries a 10% annual interest rate, matures on May 28, 2027, and is convertible into common stock at the lesser of $0.05 or 80% of the average of the five lowest intraday trading prices over the preceding 20 days. Cero Therapeutics Holdings, Inc. is a biotechnology company.