Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 818

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 818
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. The Company must cause the registration statement covering such shares to become effective
withing ninety days of the filing of the registration statement. The Sarborg Agreement also includes confidentiality obligations, representations
and warranties, indemnification, limitation of liability, and insurance requirements.

Dr. Andrew Regan, a member of Conduit’s board of directors, also
sits on the board of directors of Sarborg.

Directors
and Officers

Certain
of the individuals that serve as members of our board of directors since completion of the Business Combination have relationships with
MURF, Old Conduit, and/or one of their respective stockholders. Dr. Freda Lewis-Hall, the Chairperson of our board of directors, was
an indirect shareholder of Conduit and indirectly received 2,003 shares of our Common Stock upon completion of the Business Combination.
Dr. David Tapolczay, our Chief Executive Officer and a member of our board of directors, was a shareholder of Old Conduit and received
2,003 shares of our Common Stock upon completion of the Business Combination. Dr. Tapolczay is also a director of Old Conduit. Dr. Andrew
Regan, a member of our board of directors, is a director of Old Conduit and received 67 shares of our Common Stock upon completion of
the Business Combination. James Bligh, a member of our board of directors and interim chief financial officer, was an employee of Old
Conduit and currently serves as a member of its board of directors. Faith L. Charles, a member of our board of directors, is a partner
at Thompson Hine LLP, a law firm that provides legal services to us.

On April 22, 2024, the Company issued in a private placement common stock
purchase warrants (the “April Warrants”) to third parties, including certain directors, to purchase up to an aggregate of
9,077 shares of the Company’s common stock, in exchange for entering into a lock-up with respect to the shares of common stock held
by such holder and for such directors, $12.50 per warrant. The April Warrants are not exercisable until one year after their date of issuance.
Each April 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