Company: CDT
Filing Date: 2025-02-05
Form Type: S-3
Source: 0001493152-25-005052
Chunk: 17

Company: CDT Equity Inc.
Filing Date: 2025-02-05
Form: S-3
Chunk 17
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)(A)(iii). As a result, Nasdaq had determined to delist the Company’s Common Stock and redeemable warrants from The Nasdaq Global Market, on December 27, 2024., The Company subsequently requested and received a hearing (the “Nasdaq Hearing”) from the Nasdaq Hearings Panel. The Company submitted a written plan of compliance to cure its above mentioned rule deficiencies to Nasdaq on January 22, 2025 and will attend the Nasdaq Hearing for the Company on February 11, 2025. In its written plan of compliance, the Company highlighted its recently completed Reverse Stock Split to regain compliance with the minimum bid price and low priced rule requirements. With respect to the market value of publicly held securities requirement and the market value of listed securities requirement, the Company believes that a transfer to the Nasdaq Capital Market, if permitted, will cure the market value of publicly held securities requirement and, if provided additional time, can achieve the market value of listed securities requirement We cannot provide any assurance that the Reverse Stock Split will cure our minimum bid price and low priced rule deficiencies or that the Company’s plan of compliance to cure all of its existing deficiencies will be accepted by the Nasdaq Hearings Panel, or that if accepted by the Nasdaq Hearings Panel, will ultimately be successful and the Company’s Common Stock could be delisted.

If our Common Stock were to be delisted from trading on The Nasdaq Global Market and the trading price of our Common Stock were below $5.00 per share on the date the Common Stock is delisted, trading in our Common Stock would also be subject to the requirements of certain rules promulgated under the Exchange Act. These rules require additional disclosure by broker-dealers in connection with any trades involving a stock defined as a “penny stock” and impose various sales practice requirements on broker-dealers who sell penny stocks to persons other than established customers and accredited investors, generally institutions. These additional requirements may discourage broker-dealers from effecting transactions in securities that are classified as penny stocks, which could severely limit the market price and liquidity of such securities and the ability of purchasers to sell such securities in the secondary market. A penny stock is defined generally as any non-exchange listed equity security that has a market price of less than $5.00 per share, subject to certain exceptions.

The sale or availability for sale of shares issuable pursuant to this prospectus may depress the price of our Common Stock, dilute the interest of our existing stockholders, and encourage short