StockWatch
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Biotechnology: Pharmaceutical Preparations
Loan & DebtMay 15, 2026, 04:09 PM

CDT Equity Amends Equity Line & Convertible Note Terms

AI Summary

CDT Equity Inc. has entered into two amendments to its existing financing agreements. Amendment No. 2 to the directed stock purchase agreement (equity line of credit) sets the gross purchase price for regular purchases at $510,000 without the purchaser's consent and extends the adjustment period. Additionally, an amendment to the Senior Secured Convertible Promissory Note allows the company to retain 90% of proceeds from future debt or equity financings, with the remaining 10% allocated to note repayment. Both amendments are temporary, effective only until May 31, 2026.

Key Highlights

  • Amendment No. 2 sets the gross purchase price for regular ELOC purchases at $510,000 without purchaser consent.
  • The Adjustment Period for the ELOC is extended until the Purchaser sells all purchased shares.
  • The Note Amendment allows CDT Equity to retain 90% of proceeds from any future debt or equity financing.
  • 10% of future financing proceeds must be applied towards the repayment of the Senior Secured Convertible Promissory Note.
  • Both amendments are effective through May 31, 2026.