Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 1052

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 11
Chunk 1052
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duit and received
2,003 shares of our Common Stock upon completion of the Business Combination. Dr. Tapolczay is also a director of Old Conduit. Dr. Andrew
Regan, a member of our board of directors, is a director of Old Conduit and received 67 shares of our Common Stock upon completion of
the Business Combination. James Bligh, a member of our board of directors and interim chief financial officer, was an employee of Old
Conduit and currently serves as a member of its board of directors. Faith L. Charles, a member of our board of directors, is a partner
at Thompson Hine LLP, a law firm that provides legal services to us.

On April 22, 2024, the Company issued in a private placement common stock
purchase warrants (the “April Warrants”) to third parties, including certain directors, to purchase up to an aggregate of
9,077 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 and for such directors, $12.50 per warrant. The April Warrants are not exercisable until one year after their date of issuance.
Each April Warrant is exercisable into one share of the Company’s common stock at a price per share of $312 (as adjusted from time
to time in accordance with the terms thereof) for a two-year period after the date of exercisability. There is no established public trading
market for the April Warrants. The issuance of the April Warrants were made in reliance on the exemption from registration provided by
Section 4(a)(3) of the Securities Act, and/or Regulation D promulgated thereunder.

88

Item
14. Principal Accountant Fees and Services

The
following is a summary of fees paid or to be paid to Marcum LLP, or Marcum, for services rendered.

Audit
Fees. Audit fees consist of fees billed for professional services rendered for the audit of our year-end financial statements and
services that are normally provided by Marcum in connection with regulatory filings. The aggregate fees billed by Marcum for professional
services rendered for the audit of our annual financial statements for the year ended December 31, 2024 totaled approximately $341,200,
and for the year ended December 31, 2023 totaled approximately $440,200.

Audit-Related Fees. Audit-related
services consist of fees billed for assurance and related services that are reasonably