Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
(a)
Market Information
Our
common stock and warrants are traded on The Nasdaq Global Market and The Nasdaq Capital Market, respectively, under the symbols “CDT”
and “CDTTW”, respectively. Prior to the completion of the Business Combination, the securities of MURF were listed on The
Nasdaq Global Market under the symbols “MURFU,” “MURF,” and “MURFW”, all of which are no longer listed
on The Nasdaq Global Market.
On
April 12, 2024, the last quoted sale price for our common stock as reported on Nasdaq was $3.18 per share.
(b)
Holders
As
of April 12, 2024, there were approximately 400 holders of record of our common stock. Such numbers do not include beneficial owners
holding our securities through nominee names.
(c)
Dividends
We
have never declared or paid any cash dividends on our capital stock, and we do not currently intend to pay any cash dividends for the
foreseeable future. We expect to retain future earnings, if any, to fund the development and growth of our business. Any future determination
to pay dividends on our common stock will be at the discretion of our board of directors and will depend upon, among other factors, our
financial condition, operating results, current and anticipated cash needs, plans for expansion, and other factors that our board of
directors may deem relevant.
(d)
Securities Authorized for Issuance Under Equity Compensation Plans
Reference
is made to the information contained in the Equity Compensation Plan table contained in Item 11 of this Annual Report.
(e)
Recent Sales of Unregistered Securities
On March 20, 2024, the Company issued in a private
placement common stock purchase warrants (the “Warrants”) to an unrelated third party to purchase up to an aggregate 260,000
shares of the Company’s common stock, in exchange for entering into a lock-up with respect to the shares of common stock held by
such holder (the “Lock-Up Agreement”).
The Warrants are not exercisable until one year
after their date of issuance. Each Warrant is exercisable into one share of the Company’s common stock at a price per share of $3.18
(as adjusted from time to time in accordance with the terms thereof) for a two-year period after the date of exercisability. There is
no established public trading market for the Warrants. Notwithstanding the foregoing, the Warrants shall vest, and not be subject to forfeiture,
with respect to 25% of such Warrants commencing on the 90th day after the date of the Lock-Up Agreement and 25% on each subsequent 90-day
anniversary, in each case vesting only if the holder agrees to continue to have its shares of common stock remain locked up pursuant to
the Lock-Up Agreement on such date.
The issuance of the Warrants was made in reliance
on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation D promulgated
thereunder.
(f)
Use of Proceeds from Registered Offerings
None.
(g)
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
Item
6. [Reserved].
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