CDT Equity draws on $2.1 million J.J. Astor note with stockholder vote clock running to October 31

A senior secured convertible promissory note in the principal amount of $2,126,250, issued to J.J. Astor & Co. and filed with the SEC on September 14, 2026, puts CDT Equity Inc. (Nasdaq: CDT) in focus. The company received $1,575,000 before deducting closing fees, with net proceeds of $1,501,850 funded to the Naples, Florida company. The note matures March 1, 2027, and CDT is obligated to convene a stockholder meeting for conversion approval no later than October 31, 2026.

The note's terms

The $2,126,250 principal repays across 24 weekly installments of $88,593.75 each. J.J. Astor also received warrants to purchase 3,468,500 shares of CDT common stock at $0.25 per share, exercisable immediately and set to expire five years from the September 14 issue date.

On conversion, the lender may exchange outstanding principal into shares at a price equal to the greater of 70% of the lowest volume-weighted average price of CDT common stock over the 20 consecutive trading days preceding the applicable conversion date, or a $0.05 floor. That floor is itself subject to semi-annual reset, recalculating to 20% of the lowest VWAP over the 20 trading days immediately before each reset date. J.J. Astor is capped at 4.99% beneficial ownership of CDT's outstanding shares at any time, with the option to raise that ceiling to 9.99% at the lender's sole discretion.

ATM proceeds in the repayment waterfall

CDT's at-the-market offering program with A.G.P./Alliance Global Partners feeds directly into the repayment stack. Eighty percent of net proceeds from ATM sales on or after September 15, 2026 must be applied first to a prior note dated August 31, 2026, which the filing confirms was no longer outstanding as of September 4, 2026, then to the new J.J. Astor note, and only thereafter to CDT's Amended and Restated Senior Secured Convertible Note originally dated June 11, 2026. CDT remains obligated to continue installment payments on that existing note regardless of the waterfall priority.

The filing was signed by James Bligh, CDT's Chief Executive Officer and Chief Financial Officer. Nasdaq rules require stockholder approval before conversion shares and warrant shares can be issued, making the October 31, 2026 meeting deadline the next hard date on the tape.