Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 118

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 consolidated balance sheets, as the settlement amount
would equal the difference between the fair value of a fixed number of shares and a fixed monetary amount (or a fixed amount of a debt
instrument).

Publicly
Traded and Private Placement Warrants

Pursuant
to MURF’s initial public offering, the Company sold 8,817 units at a price of $15,000 per unit. Each unit consisted of one share
of MURF Class A common stock and one redeemable warrant “the “Publicly Traded Warrant”). Each whole Publicly Traded
Warrant entitled the holder to purchase one share of Class A common stock at a price of $17,250 per share, subject to adjustment. The
warrants are publicly traded on The Nasdaq Capital Market under the trading symbol “CDTTW”.

Simultaneously
with the closing of its initial public offering, MURF consummated the private sale to the Sponsor of 503 private placement units at a
price of $15,000 per private placement unit. Each private placement unit was comprised of one share of MURF Class A common stock and
one warrant (the “Private Placement Warrant”). Each Private Placement Warrant was exercisable to purchase one share of MURF
Class A common stock at a price of $17,250 per share, subject to adjustment. The private placement units (including the Class A common
stock issuable upon exercise of the warrants included in the private placement units) were not transferable, assignable, or saleable
until 30 days after the completion of a Merger, subject to certain exceptions.

Upon
the closing of the Merger, the Company assumed the Publicly Traded Warrants and Private Placement Warrant. The Publicly Traded Warrant
and Private Placement Warrant were amended to entitle each holder to purchase one share of the Company’s Common Stock.

March
2024 Warrants

On
March 20, 2024, the Company issued in a private placement equity classified Common Stock purchase warrants (the “March 2024
Warrants”) to an investor to purchase up to an aggregate 173 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 (the “March Lock-Up Agreement”). The Company recognized at $0.5 million
loss on the issuance of the warrants during the six months ended June 30, 2024. The Company