Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 218

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 218
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, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of
the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period
for complying with new or revised accounting standards that have different effective dates for public and private companies until the
earlier of the date that: (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended
transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with
the new or revised accounting pronouncements as of public company effective dates.

Upon
closing of the Merger, the surviving company remained an emerging growth company, as defined by the Jumpstart Our Business Startups act
of 2012, until the earliest of (i) the last day of the combined entity’s first fiscal year following the fifth anniversary of the
completion of MURF’s initial public offering, (ii) the last day of the fiscal year in which the combined entity has total annual
gross revenue of at least $1.235 billion, (iii) the last day of the fiscal year in which the combined entity is deemed to be a large
accelerated filer, which means the market value of the combined entity’s common stock that is held by non-affiliates exceeds $700.0
million as of the prior December 31st or (iv) the date on which the combined entity has issued more than $1.0 billion in non-convertible
debt securities during the prior three year period.

In
addition, Conduit is a smaller reporting company as defined in the Exchange Act. The Company may continue to be a smaller reporting company
even after we are no longer an emerging growth company. We may take advantage of certain of the scaled disclosures available to smaller
reporting companies and will be able to take advantage of these scaled disclosures for so long as (i) Conduit’s voting and non-voting
common stock held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter or (ii)
Conduit’s annual revenue is less than $100.0 million during the most recently completed fiscal year and its voting and non-voting
common stock held by non-affiliates is less than $700.0 million measured on the last business day of its second fiscal quarter.

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