Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 79

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 its operations and its research and development activities until such funding
is received, all of which could have a material adverse effect on the Company and its financial condition.

These
financial statements have been prepared assuming the Company will continue as a going concern and do not include adjustments to reflect
the possible effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result
from the outcome of this uncertainty.

Reverse
Stock Split

On
January 24, 2025, the Company amended its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the
State of Delaware in order to effect a 1-for-100 reverse stock split of its outstanding shares of Common Stock (the “January Reverse
Stock Split”). As a result of the reverse stock split, 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 described below,
without any action on the part of the holders. The January Reverse Stock Split did not affect the number of authorized shares of Common Stock or the par value of the Common Stock. No fractional shares were issued in connection with the January Reverse Stock Split. Stockholders
who would otherwise have been entitled to receive fractional shares as a result of the January Reverse Stock Split were entitled to a
cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled multiplied by the
closing price per share of the Common Stock (as adjusted to give effect to the January Reverse Stock Split) on The Nasdaq Global Market
on January 24, 2025.

    6

On
May 15, 2025, the Company amended its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the
State of Delaware to effectuate a 1-for-15
reverse stock split of the outstanding shares of the Company’s Common Stock (the “May Reverse Stock Split”). At
the Company’s Special Meeting of Stockholders on May 5, 2025, stockholders approved the reverse stock split and granted the
Company’s Board of Directors (the “Board”) the authority to determine the exact split ratio and when to proceed
with the reverse stock split. The May Reverse Stock Split became effective on May 19, 2025, at 5:00 p.m., Eastern Time (the
“Effective Time”) and the Common Stock began trading on The Nasdaq Global Market