Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 545

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 545
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 option, the Sponsor purchased an aggregate of 754,000 private units
of MURF in a private placement at a price of $10.00 per private unit. Each private unit consists of one Private Share and one Private
Warrant (the “Private Warrant”). The private units are identical to the units sold in the IPO except that the (a) the placement
units and their component securities will not be transferable, assignable or saleable until October 22, 2023 except to permitted transferees
and (b) the warrants and rights included as a component of the placement units, so long as they are held by the Sponsor or its permitted
transferees, will be entitled to registration rights, respectively. Additionally, the warrants underlying the placement units contain
a cashless exercise provision and shall be non-redeemable while held by the initial purchasers thereof or their permitted assignees.
The Sponsor had agreed not to transfer, assign or sell any of the private units and underlying securities (except in connection with
the same limited exceptions that the Private Shares may be transferred as described above) until after the Business Combination. In connection
with completion of the Business Combination, the Sponsor transferred 45,000 placement units (15,000 each) to each of Mrs. Knuettell and
Feinberg, former Directors of MURF, and Ms. Chiavacci Farley, former Director of MURF and current Director of Conduit.

85

Sponsor
Support Agreement

Concurrently
with the execution of the Merger Agreement, the Company entered into a support agreement with the Sponsor pursuant to which the Sponsor
agreed to, among other things, vote all of the shares of MURF common stock legally and beneficially owned by it in favor of the Business
Combination. On September 20, 2023, the Sponsor voted all of the shares of MURF common stock then legally and beneficially owned by it
in favor of the Business Combination.

PIPE
Subscription Agreement

In
September 2023, concurrently with the completion of the Business Combination, pursuant to the PIPE Subscription Agreement (the “PIPE
Subscription Agreement “) for an aggregate purchase price of $20.0 million, the Company issued an aggregate of 20,000 shares
of the Company’s Common Stock and PIPE Warrants (the “PIPE Warrants”) to purchase 20,000 shares of Company Common
Stock. In conjunction with the execution of the PIPE Subscription Agreement,