Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 1181

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 13
Chunk 1181
---
 Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period
for complying with new or revised accounting standards that have different effective dates for public and private companies until the
earlier of the date that: (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended
transition period provided in the 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.

Following
the Merger, the Company will remain 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 (the “MURF IPO”), (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.

Recently
Adopted Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) (“ASU 2023-07”), which enhances the segment disclosure
requirements for public entities on an annual and interim basis. Under this proposal, public entities are required to disclose significant
segment expenses that are regularly provided to the chief operating decision maker (the “CODM”) and included within each
reported measure of segment profit or loss. Additionally, current annual disclosures about a reportable segment’s profit or loss
and assets will be required on an interim basis. Entities are also required to disclose information about the CODM’s title and
position at the Company along with an explanation of how the CODM uses the reported measures of segment profit or loss in their assessment
of segment performance and deciding whether how to allocate resources. Finally, ASU 2023-07 requires