Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 141

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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 as those standards apply to private companies. The Company has elected to use this extended transition period
for complying with new or revised accounting standards that have different effective dates for public and private companies until the
earlier of the date that: (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended
transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with
the new or revised accounting pronouncements as of public company effective dates.

Upon
closing of the Merger, the surviving company remained an emerging growth company, as defined by the JOBS Act until the earliest of (i)
the last day of the combined entity’s first fiscal year following the fifth anniversary of the completion of MURF’s initial
public offering, (ii) the last day of the fiscal year in which the combined entity has total annual gross revenue of at least $1.235
billion, (iii) the last day of the fiscal year in which the combined entity is deemed to be a large accelerated filer, which means the
market value of the combined entity’s Common Stock that is held by non-affiliates exceeds $700.0 million as of the prior December
31st or (iv) the date on which the combined entity has issued more than $1.0 billion in non-convertible debt securities during the prior
three year period.

40

In addition, CDT is a smaller
reporting company as defined in the Securities Exchange Act of 1934 (as amended, the “Exchange Act”). The Company may continue
to be a smaller reporting company even after we are no longer an emerging growth company. We may take advantage of certain of the scaled
disclosures available to smaller reporting companies and will be able to take advantage of these scaled disclosures for so long as (i)
CDT’s voting and non-voting Common Stock held by non-affiliates is less than $250.0 million measured on the last business day of
our second fiscal quarter or (ii) CDT’s annual revenue is less than $100.0 million during the most recently completed fiscal year
and its voting and non-voting Common Stock held by non-affiliates is less than $700.0 million measured on the last business day of its
second fiscal quarter.

Item
3. Quantitative and Qualitative Disclosures About Market Risk.

As
a smaller reporting company, we are not