secwatch.observer — SEC 8-K summary
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Issuer:     CDT Equity Inc. (CDT)
CIK:        0001896212
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001493152-24-047631
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Conduit Pharma issues $5.74M convertible note to A.G.P. and amends Nirland note; conversion needs stockholder approval
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- Issued $5,737,500 convertible note to A.G.P. for deferred commission; 5.5% interest, matures Nov 25, 2025.
- Second Amendment to $2.65M Nirland note restricts conversion until stockholder approval; $100K/day penalty if meeting not held by Jan 9, 2025.
- Conversion price $0.10/share (adjusted for reverse splits); up to 75M shares (Nirland) and 58M shares (A.G.P.) issuable upon conversion.
- Both notes require stockholder approval under Nasdaq rules before conversion can occur.
- Company can prepay notes; customary default provisions included.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1896212/000149315224047631/0001493152-24-047631-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1896212/000149315224047631/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-047631

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer