Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 775

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 775
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 or saleable until 30 days after the completion
of a Merger, subject to certain exceptions.

In
connection with the closing of the Merger on September 22, 2023, the Equity Classified Warrants were amended to entitle each holder to
purchase one share of the Company’s Common Stock.

The
Equity Classified Warrants became exercisable 30 days after the Closing Date of the Merger. The Equity Classified Warrants will expire
five years after the Closing Date of the Merger or earlier upon redemption or liquidation.

The
Company will not be obligated to deliver any shares of Common Stock pursuant to the exercise of an Equity Classified Warrant and will
have no obligation to settle such exercise unless a registration statement under the Securities Act with respect to the shares of Common
Stock underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations
described below with respect to registration. No Equity Classified Warrant will be exercisable and we will not be obligated to issue
shares of Common Stock upon exercise unless the Common Stock issuable upon such exercise has been registered, qualified or deemed to
be exempt under the securities laws of the state of residence of the registered holder of the Equity Classified Warrant. In the event
that the conditions in the two immediately preceding sentences are not satisfied with respect to an Equity Classified Warrant, the holder
of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will
we be required to net cash settle any Equity Classified Warrant. In the event that a registration statement is not effective for the
exercised Equity Classified Warrant, the purchaser of a unit containing such Equity Classified Warrant will have paid the full purchase
price for the unit solely for the share of Common Stock underlying such unit.

    F-34

Conduit
may call the Publicly Traded Warrants in whole and not in part, at a price of $1.00 per warrant,

    ●
    upon
    not less than 30 days’ prior written notice of redemption to each Publicly Traded Warrant holder; and

    ●
    if,
and only if, the reported last sale price of the Common Stock equals or exceeds $1,800.00 per share (as adjusted for stock splits, stock
dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day