Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 854

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 854
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F Sponsor was transferred to MURF Directors. Each
    share was exchanged on a one-for-one basis for shares of Common Stock.

    ●
    Each
    share of MURF Class A common stock held by the MURF Sponsor prior to the closing of the Merger, which totaled 7,090 shares, was exchanged
    for, on a one-for-one basis for shares of Common Stock.

    ●
    Each
    share of MURF common stock subject to possible redemption that was not redeemed prior to the closing of the Merger, which totaled
    580 shares, was exchanged for, on a one-for-one basis for shares of Common Stock.

    ●
    In
    connection with the Merger, 33,062 shares of MURF Class B common stock held by the Sponsor was automatically converted into shares
    of MURF Class A common stock and then subsequently converted into shares of Common Stock on a one-for-one basis.

    F-14

    ●
    In
    connection with the Merger, A.G.P./Alliance Global Partners (“A.G.P.”), whom acted as a financial advisor to both MURF
    and Conduit, was due to receive (i) a cash fee of $6.5 million, 13,000 shares of Common Stock and warrants to purchase 540 shares
    of Common Stock at an exercise price of $1,100 per share pursuant to its engagement agreement with Conduit entered into on August
    2, 2022 and (ii) $4.6 million of deferred underwriting fees as a result of its engagement for MURF’s initial public offering.
    Upon closing of the Merger, A.G.P. received a cash payment of $5.6 million, 13,000 shares of Common Stock, and 540 warrants to purchase
    540 shares of Common Stock. The remaining $5.7 million of cash payments due to A.G.P upon closing of the Merger was deferred and
    to be paid on or before March 21, 2025, with annual interest of 5.5%. The remaining cash payments due, which were directly attributable
    to the Merger, were accounted for as a liability with an offset to additional paid-in capital in accordance with SAB Topic 5.A on
    the Company’s consolidated balance sheet. See Note 7 for discussion of amendment of the note that took place during the year ended