Conduit Pharmaceuticals Announces Debt Restructuring and Additional Notes
Conduit Pharmaceuticals Inc. (CDT)
Company Research
Source: GlobeNewswire
SAN DIEGO and LONDON, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit” or the “Company”), today announced the restructuring of a portion of its financial obligations, enhancing its balance sheet and liquidity. The Company has restructured the $2.65 million loan note with Nirland Limited (“Nirland”) and secured $1.2 million in new promissory notes through separate agreements with third parties. Conduit entered into a $2.65 million loan note with Nirland on August 6, 2024, which was subject to (i) a mandatory 75% repayment clause on new funding, and (ii) a right of first refusal for Nirland on any future fundraising. Conduit and Nirland have re-negotiated the terms of the note to remove these restrictive clauses enabling Conduit flexibility to raise new financing. The note is now convertible at Nirland’s election at $0.10 per share, based on a multiple amount of the loan note that is then due and owing at the time of such conversion. Conduit is
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- Conduit Pharmaceuticals Announces Debt Restructuring and Additional Notes [Yahoo! Finance]Yahoo! Finance
- Conduit Pharmaceuticals files $100M mixed securities shelf [Seeking Alpha]Seeking Alpha
- Conduit Pharmaceuticals to Present at the H.C. Wainwright 26th Annual Global Investment ConferenceGlobeNewswire
CDT
Sec Filings
- 11/19/24 - Form 8-K
- 11/14/24 - Form 10-Q
- 11/14/24 - Form 10-Q/A
- CDT's page on the SEC website