Company: CDT
Filing Date: 2025-02-05
Form Type: S-3
Source: 0001493152-25-005052
Chunk: 9

Company: CDT Equity Inc.
Filing Date: 2025-02-05
Form: S-3
Chunk 9
---
 to assess the potential of AZD1656 across the full spectrum of lupus patients. Simultaneously, we will evaluate the potential of AZD1656 across the broader aspects of autoimmune disorders.

| 2 |

Recent Developments Regarding the Selling Stockholders

A.G.P. Warrants

On October 29, 2024, the Company entered into the A.G.P. Bridge Agreement with A.G.P. pursuant to which A.G.P. made an advance (the “Advance”) to the Company in an amount not to exceed $600,000 (the “Commitment”). As partial consideration for the Advance, the Company issued the A.G.P. Warrants to purchase up to 28,624 shares of the Company’s Common Stock, which is equal to 50% of the sum of the Commitment divided by the closing price of the Company’s Common Stock on October 29, 2024, at an exercise price of $0.1048 per share.

The exercise of the A.G.P. Warrants and the issuance of the shares of Common Stock underlying the A.G.P. Warrants were subject to stockholder approval under applicable rules and regulations of The Nasdaq Stock Market LLC, to the extent required by such rules and regulations, of which was approved by the Company’s stockholders on January 9, 2025 special meeting of stockholders (the “Special Meeting”).

Convertible Promissory Note with A.G.P./Alliance Global Partners

On November 25, 2024, the Company issued to A.G.P. the Convertible Note in the principal amount of $5,737,500 to evidence A.G.P.’s currently owed deferred commission. Unless earlier converted as specified in the Convertible Note, the principal amount plus all accrued but unpaid interest is due on November 25, 2025 (the “Maturity Date”). The Convertible Note accrues interest at 5.5% per annum.

At any time prior to the full payment of the Convertible Note, provided that A.G.P. has given at least three business days written notice to the Company, A.G.P., in its sole discretion, may elect to have all or any portion of the outstanding principal amount and all interest accrued converted into shares of the Company’s Common Stock at a fixed price of the lower of $10.00 and the market price per share at the time of the conversion date (but in no event less than $1.00), subject to adjustment as provided therein and to take into