Cero Therapeutics agrees to sell operating unit to SRX Global for stock and debt cancellation
CERO•SRX Global agreed to buy all shares of Cero Therapeutics, Cero Therapeutics Holdings’ operating subsidiary. Consideration includes $1 million in SRX common stock, cancellation of a note with $8.25 million outstanding, and assumption of about $1.56 million in specified liabilities.
1. Deal terms
SRX Global agreed to acquire all shares of Cero Therapeutics, the operating subsidiary of Cero Therapeutics Holdings. The consideration includes SRX common stock valued at $1 million, based on the lower of the prior close or the 20-day VWAP, and cancellation of Cero’s senior secured promissory note, which has $8.25 million outstanding and a maximum principal amount of $11.67 million. SRX will also assume about $1.56 million in specified liabilities, with related indemnities for Holdings directors and officers. The deal includes a 30-day go-shop; a Superior Proposal must be executable and close no later than March 15, 2027.
