Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 904

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 904
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 within Note 17 to the consolidated financial statements.

20.
Subsequent Events

Reverse
Stock Split

On
January 24, 2025, the Company effected the Reverse Stock Split, pursuant to which every 100 shares of the Company’s common stock
issued or outstanding were automatically reclassified into one new share of common stock, subject to the treatment of fractional shares
as previously described, without any action on the part of the holders. For a description of the Reverse Stock Split, refer to Note 1
above.

Nirland Notes
Repayment

On February 7, 2025,
the Company fully repaid its outstanding October 2024 Nirland Note to Nirland Limited in the principal amount of $600,000.
This payment settled all obligations under the October 2024 Nirland Note.

With
respect to the August 2024 Nirland Note, the Lender converted approximately $1.7 million
of the original principal amount of $2,650,000 under
into shares of common stock of the Company. Of the $1.7 million of original principal that was converted into shares of common stock
of the Company, $0.1 million was converted on December 12, 2024, while the remaining $1.6 million was converted between January 13,
2025 and February 10, 2025. On February 13, 2025, the Company paid the remaining outstanding portion of the August 2024
Nirland Note, approximately $0.9
million, and, accordingly, satisfied all of its obligations in all respects to Nirland. As a result of satisfying its obligations under the
August 2024 Nirland Note, all of the Company’s assets are once again free and clear of any liens, security interests or
encumbrances.

March 2023 Convertible Note
Repayment

On March 13, 2025,
the Company fully repaid its outstanding March 2023 Convertible Note. The Company notes that the note holder agreed on March 6, 2025
to reduce the principal from $0.8
million to $0.7
million. This payment settled all obligations under the March 2023 Convertible Note. The March 2023 Convertible Note Repayment was considered
to be in default until payment on March 13, 2025.

Nasdaq Stock
Market Correspondence and Subsequent Nasdaq Capital Market Listing

On
February