Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 9

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 Stock. No fractional shares were issued in connection with the January Reverse Stock Split. Stockholders
who would otherwise have been entitled to receive fractional shares as a result of the January Reverse Stock Split were entitled to a
cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled multiplied by the
closing price per share of the Common Stock (as adjusted to give effect to the January Reverse Stock Split) on The Nasdaq Global Market
on January 24, 2025.

    6

On
May 15, 2025, the Company amended its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the
State of Delaware to effectuate a 1-for-15
reverse stock split of the outstanding shares of the Company’s Common Stock (the “May Reverse Stock Split”). At
the Company’s Special Meeting of Stockholders on May 5, 2025, stockholders approved the reverse stock split and granted the
Company’s Board of Directors (the “Board”) the authority to determine the exact split ratio and when to proceed
with the reverse stock split. The May Reverse Stock Split became effective on May 19, 2025, at 5:00 p.m., Eastern Time (the
“Effective Time”) and the Common Stock began trading on The Nasdaq Global Market on a May Reverse Stock Split-adjusted
basis on May 20, 2025, at market open under the existing ticker symbol, “CDT.” As of the Effective Time, every 15 shares
of the Company’s issued and outstanding Common Stock was combined into one share of Common Stock. The May Reverse Stock Split
did not affect the number of authorized shares of Common Stock or the par value of the Common Stock. No fractional shares were
issued in connection with the May Reverse Stock Split. Stockholders who would otherwise have been entitled to receive fractional
shares as a result of the May Reverse Stock Split were entitled to a cash payment in lieu thereof at a price equal to the fraction
to which the stockholder would otherwise be entitled multiplied by the closing price per share of the Common Stock (as adjusted to
give effect to the May Reverse Stock Split) on The Nasdaq Global Market on May 20, 2025.

All
historical share and per-share amounts reflected throughout the accompanying consolidated financial statements and other financial information
in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the January Reverse Stock Split and