debt
confidence high
sentiment negative
materiality 0.75
CDT Equity amends convertible note, principal to $2.54M, 19% interest, issues warrants
CDT Equity Inc.
- Principal increased to $2,536,650 via second and third amendments; interest rate set at 19% per annum.
- Conversion price lowered to 70% of 20-day VWAP (from 90% of 10-day); floor price set at 20% of 20-day VWAP, adjusting semi-annually.
- Lender issued warrants to purchase 37,500 shares at $7.20 per share.
- ATM net proceeds to lender increased from 80% to 90% to pay weekly installments of $104,187.65 through Jan 20, 2027.
- Company must obtain stockholder approval by Aug 28, 2026 for conversion shares exceeding 19.99% of outstanding.