CDT Equity issues $6.75 million senior secured convertible note to J.J. Astor & Co
CDT•CDT Equity issued J.J. Astor & Co a $6.75 million senior secured convertible promissory note, funded in two tranches. The note matures March 24, 2027, and includes conversion terms tied to the stock’s 20-day low and warrants for 225,000 shares.
1. Two-tranche funding
The first tranche provided $3 million against $4.05 million in principal, with net proceeds of $2,869,850. A second tranche provides $2 million against $2.7 million in principal, conditional by Dec. 31, 2026, on approvals, registration and price tests.
2. Repayment and conversion
The note matures March 24, 2027. Weekly installments of $168,750 start Oct. 14, 2026, subject to increase. The note converts at 70% of the 20-day low, with a $0.18354 floor, and the lender received warrants for 225,000 shares at $0.9177.
