Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 4

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
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 its stockholders. In the instance of a dispute under any related-party agreement, the interests of affiliated parties
may not align with the Company’s interest, and the resolution of such disputes may be less favorable than what the Company might
achieve in a transaction with an unaffiliated third party.

The
Company is also subject to risks associated with the Nasdaq Stock Market (“Nasdaq”) correspondence.

In
August 2024, the Company received deficiency letters from Nasdaq notifying the Company that it was not in compliance with Listing Rule
5450(a)(1) (the “Bid Price Rule”), Listing Rule 5450(b)(2)(C) (the “MVPHS Rule”) and Listing Rule 5450(b)(2)(A)
(the “MVLS Rule”, together with the Bid Price Rule and the MVPHS Rule, the “Rules”). The Company had until February
10, 2025, and February 11, 2025, to regain compliance with the Rules. On December 17, 2024, Nasdaq issued a letter to the Company that
as of December 17, 2024, it determined that the Company’s securities had a closing bid price of $0.10 or less for ten consecutive
trading days. As a result, Nasdaq had determined to delist the Company’s Common Stock and redeemable warrants from The Nasdaq Global
Market, on December 27, 2024. The Company subsequently requested and received a hearing (the “Nasdaq Hearing”) from the Nasdaq
Hearings Panel (the “Panel”). The Company submitted a written plan of compliance to cure its Rule deficiencies to Nasdaq
on January 22, 2025, and attended the Nasdaq Hearing for the Company on February 11, 2025. On March 5, 2025, the Company received a written
notification (the “Notice”) from the Panel confirming it had granted the Company an extension to regain compliance with the
MVPHS and MVLS Rules, provided that the Company, (i) on or before March 12, 2025, files an application to transfer to The Nasdaq Capital
Market, which application was submitted on March 7, 2025, and (ii) on or before March 31, 2025, demonstrates compliance with all Nasdaq
listing rules. The Company was notified in the Notice that as of February 26, 2025, it had regained compliance with the