SRX Global Inc. has completed a secured financing transaction with CERo Therapeutics Holdings, Inc. The agreement, executed on August 27, 2026, involves the issuance of a Consolidated Senior Secured Promissory Note to SRX Global by CERo.
The note consolidates certain outstanding convertible promissory notes previously issued by CERo, including notes issued to SRX Global, in an aggregate amount of $5,666,108.77. The agreement provides for additional advances by SRX Global to CERo of up to $6,000,000, resulting in a maximum aggregate loan amount of $11,666,108.77.
An initial advance of $775,665.00 was funded on the execution date of the note. SRX Global may provide additional funding on the first day of each calendar month following the original issue date, subject to the $6,000,000 aggregate advance limit and the absence of an Event of Default.
Interest on the outstanding principal is set at 10% per annum, calculated on a 30-day month and 360-day year. If an Event of Default occurs, the interest rate increases to the lesser of 24.99% per annum or the maximum rate permitted by law. The principal and interest are due on October 15, 2026, though the maturity date may be extended by up to four consecutive 30-day periods if no default has occurred.
As security for the obligation, CERo has pledged its issued and outstanding capital stock of its wholly owned subsidiary, CERo Therapeutics, Inc., to SRX Global. The subsidiary has also granted a security interest in substantially all of its assets, including intellectual property, patents, and clinical trial data related to its CER-T cell therapy business, specifically the candidate CER-1236.
CERo intends to use the proceeds for working capital and to pay outstanding trade payables. The company is currently advancing its Phase 1 CERTAIN-T trial for CER-1236, having treated six patients and initiated a third cohort focused on myelodysplastic syndromes and myelofibrosis.
