Conduit Pharmaceuticals ( (CDT) ) has issued an update.
Conduit Pharmaceuticals Inc. recently entered into financial agreements to secure funding, including a $600,000 bridge loan from A.G.P./Alliance Global Partners, alongside issuing warrants for stock purchases. The company also issued a $600,000 promissory note to Nirland Limited with a 12% interest rate. Additionally, Conduit amended agreements with Nirland, allowing debt conversion into common stock, potentially impacting its market offerings and financial structure. These moves are part of Conduit’s strategy to manage debt and fund its growth initiatives.
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