Company: CDT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001641172-25-006259
Chunk: 13

Company: CDT Equity Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 13
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 predict market conditions at the time that any Reverse Stock Split would be effected. We believe that a range of Reverse
Stock Split Ratios provides us with the most flexibility to achieve the desired results of any Reverse Stock Split through one or
more Amendments. The Reverse Stock Split Ratio to be determined by the Board, in its sole discretion, will be a whole number in a
range of, between and including, 1-for-2 to 1-for-100 and in the aggregate not more than 1-for-250, inclusive. The Board reserves
the right to elect not to effect any Reverse Stock Split at any time prior to the effectiveness of the filing of a certificate of
Amendment setting forth any Amendment with the Secretary of State, if it determines, in its sole discretion, and without further
action on the part of the stockholders, that a Reverse Stock Split is no longer in the best interests of the Company and its
stockholders.

In determining any applicable Reverse Stock Split
Ratio and whether and when to effect any Reverse Stock Split pursuant to one or more Amendments following the receipt of stockholder approval,
the Board may consider a number of factors, including, without limitation:

● our ability to maintain the listing of the Common Stock on the Nasdaq;

● the historical trading price and trading volume of the Common Stock;

● the number of shares of Common Stock outstanding immediately before and after the Reverse Stock Split;

● the dilutive impact of any potential exercise of the Company’s outstanding warrants or conversion of the Company’s outstanding convertible notes and the related impact on the trading price of the Common Stock;

● the then-prevailing trading price and trading volume of the Common Stock and the anticipated impact of a Reverse Stock Split on the trading price and trading volume of the Common Stock in the short- and long-term;

● the anticipated impact of a particular Reverse Stock Split Ratio on the Company’s ability to reduce administrative and transactional costs;

● the anticipated impact of a particular Reverse Stock Split Ratio on the number of holders of the Common Stock; and

● prevailing general market, legal, and economic conditions.

We believe that granting the Board the authority
to elect to implement one or more Reverse Stock Splits through one or more Amendments at various Reverse Stock Split Ratios (subject to
the aggregate 1-for-250 limitation) is essential because it allows us to take these factors into consideration and to react to changing
market, legal and economic conditions. If the Board chooses to implement one or more Reverse Stock Splits, we will make a