CDT Equity takes $6.75 million secured convertible note from J.J. Astor & Co.
CDT Equity Inc. issued a $6,750,000 senior secured convertible note to J.J. Astor & Co. on October 6, 2026, to be funded in two tranches. The company received $3,000,000 in the first tranche and must repay the note in weekly installments starting October 14, 2026, with maturity on March 24, 2027. The lender can convert the note into common stock at a discounted price and received warrants for 225,000 shares, which could add shares outstanding for existing shareholders.
Key points
- First tranche: $3,000,000 received against $4,050,000 of principal, with net proceeds of $2,869,850 after closing fees
- Second tranche of $2,000,000 is subject to conditions on or before December 31, 2026, including a closing bid price of at least $3.00
- Conversion price is the greater of 70% of the lowest closing price over 20 trading days or a $0.18354 floor; warrants for 225,000 shares at $0.9177
- 80% of net proceeds from the at-the-market offering with A.G.P. are applied to the note first; the note is secured by a first priority lien
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 13, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.