Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 900

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 900
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arrants are not exercisable until one year after their date of issuance. Each March
2024 Warrant is exercisable into one share of the Company’s Common Stock at a price per share of $3.18 (as adjusted from time to
time in accordance with the terms thereof) for a two-year period after the date of exercisability. There is no established public trading
market for the March 2024 Warrants. Notwithstanding the foregoing, the March 2024 Warrants shall vest, and not be subject to forfeiture,
with respect to 25% of such March 2024 Warrants commencing on the 90th day after the date of the March Lock-Up Agreement and 25% on each
subsequent 90-day anniversary, in each case vesting only if the holder agrees to continue to have its shares of common stock remain locked
up pursuant to the March Lock-Up Agreement on such date. 

The
April 2024 Warrants are not exercisable until one year after their date of issuance. Each April 2024 Warrant is exercisable into one
share of the Company’s Common Stock at a price per share of $312 (as adjusted from time to time in accordance with the terms thereof)
for a two-year period after the date of exercisability. There is no established public trading market for the April 2024 Warrants. Notwithstanding
the foregoing, the April 2024 Warrants shall vest, and not be subject to forfeiture, with respect to 25% of such March 2024 Warrants
commencing on the 90th day after the date of the April Lock-Up Agreement and 25% on each subsequent 90-day anniversary, in each case
vesting only if the holder agrees to continue to have its shares of common stock remain locked up pursuant to the April Lock-Up Agreement
on such date.

Liability
Classified Warrants

As
discussed in Note 2, 20,000 PIPE Warrants were issued to the PIPE Investors as of the closing of the Merger pursuant to subscription
agreements. The warrants provide the PIPE Investors the right to purchase up to 20,000 shares of Common Stock at an exercise price of
$1,150. Additionally, on the Closing Date of the Merger, the Company issued 540 A.G.P. Warrants to an advisor for services provided directly
related to the Merger. The warrants provide the advisor the right to purchase up to 540 shares of