CDT Equity Announces Reverse Split to Avoid Nasdaq Delisting
CDT is trading near its 52-week low of $0.34 (17% below the low).
Summary
CDT Equity is planning a reverse stock split to regain compliance with Nasdaq's $1 minimum bid price rule. The stock currently trades at $0.28, far below the threshold, and the company has been under a deficiency notice since late May for failing to file its Q1 10-Q. This follows a cash crisis revealed in the July 15 10-Q — only $97,000 left and a going concern warning. The reverse split is a mechanical fix that does not address the underlying financial distress, and it comes after a prior 1-for-25 reverse split in March 2026. The company's survival still depends on raising capital, with an active $76 million ATM program and recent dilutive convertible loans. The split ratio and effective date have not been disclosed.
At the time of this announcement, CDT was trading at $0.28 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.7M. The 52-week trading range was $0.34 to $468.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.