Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 888

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 888
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 31, 2023, the
valuation allowance for deferred tax assets totaled approximately $4.5
million and $1.4
million, respectively.

13.
Common Stock and Preferred Stock

Common
Stock

As
of December 31, 2024, and December 31, 2023, the Company has authorized the issuance of up to 250,000,000 shares
of common stock, respectively, at a par value $0.0001 per
share.

As
of December 31, 2024, and December 31, 2023 there were 1,384,801 and 738,295 shares of Common Stock issued and outstanding, respectively.
No cash dividends have been declared or paid as of December 31, 2024.

Holders
of the Common Stock are entitled to one vote per share, and to receive dividends, on and if declared by the board of directors and, upon
liquidation or dissolution, are entitled to receive all assets available for distribution, subordinate to the rights, preferences, and
privileges of any outstanding preferred shares (if any) with respect to dividends and in connection with liquidation, winding up and
dissolution of the Company. The holders have no preemptive or other subscription rights.

Preferred
Stock

As
of December 31, 2024, the Company has authorized the issuance of up to 1,000,000 shares of Conduit Pharmaceuticals, Inc. preferred stock
(the “Preferred Stock”). As of December 31, 2024, and December 31, 2023, no preferred shares were issued and outstanding.

At-the-Market
Offering

On
October 23, 2024, the Company entered into the Sales Agreement with A.G.P. relating to shares of the Company’s Common Stock. In
accordance with the terms of the Sales Agreement, the Company may offer and sell shares of our Common Stock having an aggregate offering
price of up to $3.6
million from time to time through A.G.P.,
acting as our sales agent or principal.

The
compensation to A.G.P. for sales of common stock sold pursuant to the Sales Agreement will be equal to 3.0% of the gross proceeds of
any shares of common stock sold under the sales agreement.

During
the year ended December 31, 2024, the Company sold 323,273
shares of Common Stock under the Sales Agreement
and generated $3