SRX Global to buy CERo Therapeutics in $1M stock deal, forgiving $11.67M debt
What's the deal? SRX GlobalDealroom has a profile for this one. Try Dealroom →, formerly SRx Health SolutionsDealroom has a profile for this one. Try Dealroom →, will acquire all shares of CERo Therapeutics from CERo Therapeutics HoldingsDealroom has a profile for this one. Try Dealroom →, making it a wholly owned subsidiary. The consideration includes $1 million in SRX common stock, forgiveness of up to $11.67 million in senior secured debt, and assumption of about $1.56 million in specified liabilities.
The terms: The parties signed a Stock Purchase Agreement on October 6, 2026. The forgiven debt carries a current balance of $8.25 million, and the deal also terminates related security and pledge arrangements.
What each side does: SRX Global is a Delaware corporation listed on the NYSE American, now focused on acquiring and integrating biotechnology assets. CERo Therapeutics develops advanced therapeutics and becomes part of SRX's operating footprint at closing.
Why now? The structure provides CERo with debt relief and reshapes SRX's capital structure. For SRX, owning an operating therapeutics subsidiary advances its stated strategy of expanding through acquisitions.
What could go wrong? The agreement includes a 30-day go-shop period for Holdings to seek superior bids, with up to 45 more days to finalise any Superior Proposal. Reciprocal $750,000 termination fees apply depending on which party fails to close or pursues an alternative deal. Closing also hinges on preferred stock conversions, consents, and detailed conditions.
The signal: The deal shows how distressed biotech assets are changing hands through debt forgiveness rather than large cash payouts, letting acquirers absorb development-stage companies while clearing their liabilities.
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