Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 512

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 512
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 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.

69

Item
7A. Quantitative and Qualitative Disclosures about Market Risk

As
a smaller reporting company, we are not required to provide the information required by this item.

Item
8. Financial Statements and Supplementary Data

This
information appears following Item 15 of this Annual Report and is included herein by reference.

Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item
9A. Controls and Procedures

Controls
and Procedures

Disclosure
controls are procedures