Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 774

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 774
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 within equity and estimated the
fair value of the warrants issued as of April 20, 2024, using a Black-Scholes option-pricing model utilizing the following assumptions:

    April 20, 2024 
  
    Closing stock price 
    $308 
  
    Contractual exercise price 
    $312 
  
    Risk-free rate 
     4.81%
  
    Estimated volatility 
     78.3%
  
    Time period to expiration 
     3 Years 

As
partial consideration for the Advance issued to the Company by A.G.P. on October 29, 2024, the Company issued A.G.P. Warrants (the “A.G.P.
2024 Warrants”) to purchase up to 28,625 shares of the Company’s Common Stock at an exercise price of $0.1048 per
share. The Company determined that the A.G.P. 2024 Warrants should be classified as a liability and estimated the fair value of the warrants
as of October 29, 2024, and December 31, 2024, using a Black-Scholes option-pricing model. Refer to Note 3 above for additional information.

Equity
Classified Warrants

Pursuant
to MURF’s initial public offering, the Company sold 132,250 units at a price of $10.00 per unit. Each unit consisted of one share
of MURF Class A common stock and one redeemable Publicly Traded Warrant. Each whole Publicly Traded Warrant entitled the holder to purchase
one share of Class A common stock at a price of $11.50 per share, subject to adjustment. The warrants are publicly traded on The Nasdaq
Capital Market under the trading symbol CDTTW.

Simultaneously
with the closing of its initial public offering, MURF consummated the private sale to the Sponsor of 7,540 private placement units at
a price of $10.00 per private placement unit. Each private placement unit was comprised of one share of MURF Class A common stock and
one Private Placement Warrant. Each Private Placement Warrant was exercisable to purchase one share of MURF Class A common stock at a
price of $11.50 per share, subject to adjustment. The private placement units (including the Class A common stock issuable upon exercise
of the warrants included in the private placement units) were not transferable, assignable,