Company: CDT
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005096
Chunk: 11

Company: CDT Equity Inc.
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 11
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 of the $1.00 minimum bid price as required by Nasdaq for continued      
 listing, or that we will otherwise meet the requirements of Nasdaq for inclusion for trading on The Nasdaq Capital Market.            |

| 8 |

Board Discretion to Implement One or More Reverse Stock Splits

The Board believes that stockholder approval of a range of ratios for the Reverse Stock Split Ratio (as opposed to a single Reverse Stock Split Ratio) and to authorize one or more Amendments is in the best interests of the Company and stockholders because it is not possible to predict market conditions at the time that any Reverse Stock Split would be effected. We believe that a range of Reverse Stock Split Ratios provides us with the most flexibility to achieve the desired results of any Reverse Stock Split through one or more Amendments. The Reverse Stock Split Ratio to be determined by the Board, in its sole discretion, will be a whole number in a range of 1-for-2 to one-for-100 and in the aggregate not more than one-for-250, inclusive. The Board reserves the right to elect not to effect any Reverse Stock Split at any time prior to the effectiveness of the filing of any Amendment with the Secretary of State, if it determines, in its sole discretion, and without further action on the part of the stockholders, that a Reverse Stock Split is no longer in the best interests of the Company and its stockholders.

In determining any applicable Reverse Stock Split Ratio and whether and when to effect any Reverse Stock Split pursuant to one or more Amendments following the receipt of stockholder approval, the Board may consider a number of factors, including, without limitation:

● our ability to maintain the listing of the Common Stock on the Nasdaq;

● the historical trading price and trading volume of the Common Stock;

● the number of shares of Common Stock outstanding immediately before and after the Reverse Stock Split;

● the dilutive impact of any potential exercise of the Company’s outstanding warrants or conversion of the Company’s outstanding convertible notes and the related impact on the trading price of the Common Stock;

● the then-prevailing trading price and trading volume of the Common Stock and the anticipated impact of a Reverse Stock Split on the trading price and trading volume of the Common Stock in the short- and long-term;

● the anticipated impact of a particular Reverse Stock Split Ratio on the Company’s ability to reduce administrative and transactional costs;

● the anticipated impact of a particular Reverse Stock Split Ratio on the number of holders of the Common Stock; and

● prevailing general market, legal, and