CEROW to sell subsidiary to SRX Global for stock and debt relief

CEROW signed a definitive Stock Purchase Agreement to sell its operating subsidiary CERo Therapeutics, Inc. to SRX Global Inc. in exchange for approximately $1M in SRX stock, forgiveness of ~$8.2M in outstanding debt, assumption of ~$1.6M in liabilities, and extended debt maturity. The deal includes a 30-day go-shop period and Superior Proposal rights, meaning the transaction is not yet locked and the board retains flexibility to pursue alternative bids, which creates uncertainty about final outcome and pricing.

CEROW agreed to sell its main business to another company (SRX Global) and get rid of about $8 million in debt in return, but the deal isn't final yet—the company has 30 days to shop it around for potentially better offers.