CDT Equity Inc 8-K, filed Mar 6, 2025
CDT Equity Inc. (CDT)
About this 8-K
CDT Equity Inc filed this 8-K on March 6, 2025, reporting on events of March 5, 2025.
Items reported
- Item 8.01: Other events
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Item 8.01. Other Events
As previously reported, on February 11, 2025, Conduit Pharmaceuticals Inc. (the “Company”) presented its plan of compliance to The Nasdaq Stock Market LLC (“Nasdaq”) Hearing Panel (the “Panel”) and requested an extension of time to achieve compliance with Nasdaq Listing Rules 5450(a)(1), 5450(b)(2&3)(C) and 5450(b)(2)(A), the Minimum Bid Price (“Bid Price”), Market Value of Publicly Held Shares (“MVPHS”) and Market Value of Listed Securities (“MVLS”) rules, respectively.
On March 5, 2025, the Company received a written notification (the “Notice”) from the Panel confirming it has granted the Company such an extension for the Company to regain compliance with the MVPHS and MVLS rules, provided that the Company, (i) on or before March 12, 2025, files an application to transfer to the Nasdaq Capital Market, which it intends to do, and (ii) on or before March 31, 2025, demonstrates compliance with all Nasdaq listing rules, which it also intends to do, and believes it will satisfy.
Additionally, the Company was also notified in the Notice that as of February 26, 2025, it had regained compliance with Nasdaq Listing Rule 5450(a)(1), the Bid Price rule.
Following the transfer to the Nasdaq Capital Market, the Company’s current MVPHS will be compliant with the MVPHS continued listing standard of greater than $1.0 million and the Company believes it will be able to demonstrate its compliance with the Equity Standard of Stockholder’s Equity greater than $2.5 million prior to the March 31, 2025, deadline to the satisfaction of Nasdaq, although no such assurance can be given.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CONDUIT PHARMACEUTICALS INC. | ||
| March 6, 2025 | By: | /s/ David Tapolczay |
| Name: | David Tapolczay | |
| Title: | Chief Executive Officer | |