---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-032104"
form_type: "8-K"
ticker: "CDT"
cik: "0001896212"
company_name: "CDT Equity Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T21:33:35.327519+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Murphy Canyon SPAC to merge with Conduit Pharmaceuticals at $650M enterprise value

## Summary
- Deal consideration $650 million payable in 65 million MURF shares valued at $10.00 each.
- Conduit shareholders to receive MURF Class A common stock; MURF to rename 'Conduit Pharmaceuticals Inc.'
- PIPE of $27 million from private investor at $10.00/unit, each unit one share plus one warrant.
- Closing expected Q1 2023 subject to stockholder approvals and minimum $27M cash condition.
- Sponsor support agreement secured; lock-up agreements for certain Conduit shareholders.

## SEC filing metadata
- accession: 0001493152-22-032104
- form_type: 8-K
- ticker: CDT
- cik: 0001896212
- company_name: CDT Equity Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1896212/000149315222032104/0001493152-22-032104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1896212/000149315222032104/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-032104
- JSON: https://secwatch.observer/filing/0001493152-22-032104.json
- Plain text: https://secwatch.observer/filing/0001493152-22-032104.txt

## Key facts
- Material Agreements
  CDT Equity Inc. entered into Merger Agreement with Murphy Canyon Acquisition Corp., Conduit Pharmaceuticals Limited, and Conduit Merger Sub, Inc. valued at $650,000,000 (effective 2022-11-08).
  - Action: entry
  - Agreement: merger
  - Counterparty: Murphy Canyon Acquisition Corp., Conduit Pharmaceuticals Limited, and Conduit Merger Sub, Inc.
  - Value: $650,000,000
  - Effective: 2022-11-08
  source text: On November 8, 2022, Murphy Canyon Acquisition Corp., a Delaware corporation (“ MURF ”), entered into an agreement and plan of merger (the “ Merger Agreement ”) by and among MURF, Conduit Pharmaceuticals Limited, a Cayman Islands exempted company (“ Conduit ”) and Conduit Merger Sub, Inc., a Cayman Islands exempted company and a wholly owned subsidiary of MURF (“ Merger Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1896212/000149315222032104/0001493152-22-032104-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.