Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 138

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 138
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 other general and administrative expenses, a $0.1 million decrease
in accounting and audit expenses, and a $0.1 million decrease in insurance expense related to the amortization of prepaid directors and
officers insurance, partially offset by a $0.5 million increase in legal expenses.

31

Other
Income (Expense), Net

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Other income (expense), net 
    $(969) 
    $(487) 
    $(482) 
     99%

Other income (expense), net
changed by $0.5 million, or 99%, to $1.0 million of expense for the three months ended March 31, 2025, as compared to $0.5 million of
net expense for the three months ended March 31, 2024. The $1.0 million in other income (expense) for the three months ended March 31,
2025 is primarily related to a $1.8 million loss on the change in fair value of convertible notes, partially offset by a $0.1 million
gain on the change in fair value of the warrant liability, $0.3 million gain on debt extinguishment, and $0.4 million gain on the waiver
of accrued interest. The $0.5 million in other income (expense) for the three months ended March 31, 2024 was primarily related to a $0.5
million loss on the issuance of warrants.

For
further details refer to Note 13, “Other income (expense), net,” in the unaudited financial statements as of March 31, 2025
and March 31, 2024 included elsewhere in this Quarterly Report.

Interest
Expense, Net

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Interest expense, net 
    $(176) 
    $(119) 
    $(57) 
     48%

Interest
expense was $0.2 million for the three months ended March 31, 2025 compared
to $0.1 million for the three months ended March 31, 2024. The change was driven by $77