Conduit Pharmaceuticals Inc. has entered into a series of financial agreements to secure funding for its operations. On October 29, 2024, the company signed a Bridge Loan Agreement with A.G.P./Alliance Global Partners, receiving an advance of up to $600,000 and issuing warrants for purchasing approximately 2.86 million shares of its common stock. The warrants have an exercise price of $0.1048 per share, with stockholder approval required for the exercise. A stockholder meeting is planned within 90 days to seek this approval. The Bridge Note associated with this loan has an interest rate of 4.21% and is due by December 31, 2024. Additionally, Conduit Pharmaceuticals has amended a previous fee agreement with A.G.P., suspending a 25% net proceeds payment obligation until the Bridge Note is fully...Show More

Conduit Pharmaceuticals Inc. has entered into a series of financial agreements to secure funding for its operations. On October 29, 2024, the company signed a Bridge Loan Agreement with A.G.P./Alliance Global Partners, receiving an advance of up to $600,000 and issuing warrants for purchasing approximately 2.86 million shares of its common stock. The warrants have an exercise price of $0.1048 per share, with stockholder approval required for the exercise. A stockholder meeting is planned within 90 days to seek this approval. The Bridge Note associated with this loan has an interest rate of 4.21% and is due by December 31, 2024. Additionally, Conduit Pharmaceuticals has amended a previous fee agreement with A.G.P., suspending a 25% net proceeds payment obligation until the Bridge Note is fully repaid. The company is also planning an at the market offering of about $3.5 million, with initial proceeds aimed at repaying the Bridge Note. In a separate agreement on October 28, 2024, Conduit Pharmaceuticals issued a promissory note to Nirland Limited for $600,000, bearing a 12% interest rate and maturing on October 31, 2025. Following an event of default, the interest rate could increase to 18%. The company also amended its existing debt agreements with Nirland, allowing for the conversion of an existing note into common stock, removing Nirland's mandatory prepayment right, and Nirland's right of first refusal in future equity or debt offerings. These financial moves are part of Conduit Pharmaceuticals' strategy to manage its capital and secure funding for its ongoing operations.