CDT Equity Eliminates $6.3M Legacy Debt, Secures $1.46M Loan
CDT•CDT Equity repaid its $5.7375 million A.G.P. Convertible Loan Note and $555,555.56 Ascent Promissory Note in early June, eliminating over $6.3 million of legacy financing obligations. On June 11 it secured a new $1.46 million loan facility from JJ Astor, funding $268,000 of the first tranche.
1. Debt Repayment Details
In early June CDT Equity repaid its full $5.7375 million A.G.P. Convertible Loan Note and its $555,555.56 Ascent Partners Promissory Note, removing more than $6.3 million of legacy debt from its balance sheet.
2. New Loan Facility Terms
On June 11 the company entered into a new loan agreement with JJ Astor & Co for up to $1.46 million to support working capital; JJ Astor funded $268,000 of the first tranche, with the remainder subject to conditions expected to be satisfied this month.
3. Strategic and Financial Impact
The refinancing simplifies CDT’s capital structure, reduces interest and covenant burdens, and enhances financial flexibility as it advances its intellectual property portfolio, strategic partnerships and corporate development initiatives.
