Loan & DebtAug 6, 2026, 04:41 PM
CDT Equity Amends Loan, Increases Principal to $2.54M, Issues Warrants
AI Summary
CDT Equity Inc. has further amended its senior secured convertible promissory note and loan agreement with J.J. Astor & Co. The principal amount of the note has increased to $2,536,650, and the interest rate is now 19%. The company also received an additional advance of $200,000, and issued warrants for 37,500 shares. These amendments follow the company's failure to make previous installment payments and meet registration deadlines, indicating financial strain and less favorable terms for the company.
Key Highlights
- Principal amount of the senior secured convertible note increased to $2,536,650.
- Interest rate on the note increased to 19% per annum.
- Weekly installments of $104,187.65 are payable over 23 weeks, starting August 19, 2026.
- Net proceeds to Lender from Sales Agreement increased from 80% to 90%.
- Conversion price for shares adjusted to 70% of lowest 20-day VWAP (previously 90% of 10-day VWAP).
- Lender advanced an additional $200,000, with net proceeds to company of $181,850.
- Company issued warrants for 37,500 shares at $7.20 per share.
- Resale registration statement filing deadline extended to August 31, 2026.
Price Impact
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