Company: CDT
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001641172-25-005732
Chunk: 8

Company: CDT Equity Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 8
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, Conduit is well-positioned to lead in areas such as drug repurposing, clinical trial monitoring, and IP creation, ensuring the Company’s long-term growth and market leadership.

Furthermore, Conduit believes that it is well positioned to pursue, and intends to pursue, additional relationships and/or partnerships with third parties for the licensing of further assets which are currently deprioritized. We plan to focus our efforts on developing clinical assets to address disorders that impact a large population where there is no present treatment or the present treatment, carries significant unwanted side effects.

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Recent Developments Regarding the Selling Stockholders

Sarborg Additional Agreement

Effective March 31, 2025, the Company entered into the Additional Agreement with Sarborg covering certain additional deliverables and incorporating a new scope of work focused on analysis of the Company’s acquired AstraZeneca assets. Sarborg will apply its proprietary algorithms to analyze the Company’s data room including clinical and safety data for AZD1656, AZD5658, and AZD5904 to uncover missed insights, identify repurposing opportunities, and flag dataset gaps. The goal is to re-evaluate the clinical trial data, focusing on failed endpoints, to potentially identify specific patient subgroups that may have benefited, which could enhance the Company’s clinical strategy. Sarborg grants to the Company a non-exclusive, non-transferable, revocable license for the term to access and use Sarborg’s proprietary algorithmic machine learning platform in connection with the data analysis. The term of the Additional Agreement is for six months and provides for the payment, in aggregate, of $2.0 million which includes an up-front license fee for the term, in cash or stock at the Company’s election at the closing price on the day preceding the effective date of the agreement.

In connection with the payment of prepaid monthly invoices for a portion of such fees, the Company issued 1,853,933 shares to satisfy approximately $1.65 million of such fees.

Thesprogen Consulting Agreement

On March 25, 2025, Thesporgen and the Company entered into the Consulting Agreement in which Thesprogen will provide services to optimize strategies of the Company related to their clinical development, data, and public relations. For services rendered, the Company has agreed to compensate Thesprogen 337,079 shares to satisfy the $300,000 fee due to Thesprogen pursuant to the Consulting Agreement.

Corporate Information

On September 22, 2023, a merger transaction (