Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 125

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 125
---
 to the Additional Agreement with Sarborg Limited, a related party. Under the terms
of the Addendum, Sarborg will expand the scope of the Additional Agreement to provide external analysis of third-party pharma
companies assets suitable for drug re-purposing and evaluate the efficacy of the assets utilizing Conduit’s license to
Sarborg’s machine learning platform. The scope of work is expected to be completed in 4 weeks, which may be renewed or
extended upon the mutual written agreement of the Parties. The total consideration for the additional services, payable in cash in
two tranches, was $0.3 million.
The Company paid the full $0.3 million
as of the date of this filing.

Appointment
of Permanent Chief Financial Officer

Effective
August 4, 2025, the Company appointed James Bligh, co-founder, director and Interim Chief Financial Officer as the permanent Chief Financial
Officer of the Company. Mr. Bligh’s compensation will remain unchanged and he will continue to serve as a member of the Board.

Name
Change to CDT Equity Inc.

On
August 5, 2025, the Company filed a certificate of amendment to its Second Amended and Restated Certificate of Incorporation (the “Certificate
of Incorporation”), to effect a change of the Company’s name from “Conduit Pharmaceuticals Inc.” to “CDT
Equity Inc.”, which became effective at 5:00 P.M. Eastern Time on August 5, 2025. The Company’s Common Stock continues to
be listed on The Nasdaq Capital Market under the ticker symbol “CDT”. In addition, the CUSIP number for the Common Stock
remains the same.

CDT
Equity Inc. Amended and Restated 2023 Stock Incentive Plan

On
August 5, 2025, at the Company’s 2025 Annual Meeting of Stockholders, stockholders approved an amendment and restatement of the
Company’s 2023 Stock Incentive Plan (as amended, the “Amended 2023 Stock Incentive Plan”) to authorize an additional
2,000,000 shares of Common Stock for awards under the Amended 2023 Stock Incentive Plan. The Amended 2023 Stock Incentive Plan was recommended
and approved by the Board on July 8, 2025.

Sarborg
- Additional Agreement Addendum 2

On
August 11, 2025