Murphy Canyon cuts PIPE to $20M, postpones shareholder meeting, faces Strand litigation

CDT Equity Inc.

Private Placement reduced from $27M to $20M; Nirland Limited commits $20M at $10/unit (share + warrant).
Strand Hanson filed UK claim against Conduit for $2M advisory fee plus 6.5M shares; Conduit disputes.
Special meeting postponed to Sept 20, 2023; redemption deadline extended to Sept 18, 2023.
Pro forma impact: cash reduced by $7M, shares outstanding down to 74.5M (no-redemption scenario).
St George Street sold 78 Conduit shares to Nirland; will hold ~7.3% of New Conduit post-closing.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CDT Equity Inc. entered into Subscription Agreement with Nirland Limited valued at $20 million (effective 2023-09-13).

Action: entry
Agreement: equity purchase
Counterparty: Nirland Limited
Value: $20 million
Effective: 2023-09-13

Exact text from the filing

on September 13, 2023, the Company entered into a Subscription Agreement (the “Subscription Agreement”) with Nirland Limited

View on SEC.gov

119 material agreements filed in the last 30 days. Browse all material agreements →

CDT Equity Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-032446

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