Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 898

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 898
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 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 period commencing once the
Publicly Traded Warrants become exercisable and ending three business days before we send the notice of redemption to the warrant holders.

If
and when the Publicly Traded Warrants become redeemable by Conduit, Conduit may not exercise its redemption right if the issuance of
shares of Common Stock upon exercise of the Publicly Traded Warrants is not exempt from registration or qualification under applicable
state blue sky laws or Conduit are unable to effect such registration or qualification. Conduit will use its best efforts to register
or qualify such shares of Common Stock under the blue sky laws of the state of residence in those states in which the Publicly Traded
Warrants were offered by Conduit in the offering.

If
Conduit calls the Publicly Traded Warrants for redemption as described above, Conduit’s management will have the option to require
any holder that wishes to exercise its Publicly Traded Warrant to do so on a “cashless basis.” In determining whether to
require all holders to exercise their Publicly Traded Warrants on a “cashless basis,” Conduit’s management will consider,
among other factors, Conduit’s cash position, the number of Publicly Traded Warrants that are outstanding and the dilutive effect
on Conduit stockholders of issuing the maximum number of shares of Common Stock issuable upon the exercise of our Publicly Traded Warrants.
If Conduit’s management takes advantage of this option, all holders of Publicly Traded Warrants would pay the exercise price by
surrendering their Publicly Traded Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x)
the product of the number of shares of Common Stock underlying the