Company: CDT
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001641172-25-005732
Chunk: 13

Company: CDT Equity Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 13
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 of ownership may have the effect of delaying or preventing a change in control and might adversely affect the market price of our Common Stock.

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Nasdaq may delist our securities from trading on its exchange.

Our Common Stock is listed on The Nasdaq Global Market and our redeemable warrants are listed on The Nasdaq Capital Market. Although we met the minimum initial listing standards of Nasdaq, which generally only requires that we meet certain requirements relating to stockholders’ equity, market capitalization, aggregate market value of publicly held shares, and distribution requirements, we cannot assure investors that our securities will continue to be listed on Nasdaq in the future.

For example, we have recently received multiple listing deficiency notices from Nasdaq, in connection with our failures to satisfy the continued listing requirements relating to Nasdaq’s rules regarding minimum bid price and low priced rule, the market value of publicly held shares, and the market value of listed securities. Although we intend to regain compliance with (i) the low priced rule, by having effected the reverse stock split, (ii) the minimum bid price rule, by having effected the reverse stock split, (iii) the market value of publicly held securities requirement and (iv) the market value of listed securities requirement, the inability to comply with Nasdaq’s continued requirements or standards could result in the delisting of our Common Stock, which could have a material adverse effect on our financial condition and could cause the value of the Common Stock to decline.

In August 2024, the Company received deficiency letters from Nasdaq notifying the Company that it was not in compliance with Listing Rule 5450(a)(1) (the “Bid Price Rule”), Listing Rule 5450(b)(2)(C) (the “MVPHS Rule”) and Listing Rule 5450(b)(2)(A) (the “MVLS Rule”, together with the Bid Price Rule and the MVPHS Rule, the “Rules”). The Company had until February 10, 2025, and February 11, 2025, to regain compliance with the Rules. On December 17, 2024, Nasdaq issued a letter to the Company that as of December 17, 2024, it determined that the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days. As a result, Nasdaq had determined to delist the Company’s Common Stock and redeemable warrants from The Nasdaq Global Market, on December 27, 2024. The Company