Conduit Pharmaceuticals Inc. has reported a material definitive agreement involving its wholly-owned subsidiary, Conduit Pharmaceuticals Limited, and the issuance of a Convertible Promissory Note to Vrezh Isayan and Sharon Lee Isayan. The note, originally due on September 20, 2024, with a principal amount of $800,000 and an interest rate of 20% per annum, was amendable to extend the maturity date to October 20, 2024. The amendment, effective as of September 20, 2024, also allowed for the issuance of $80,000 worth of the company's common stock and 2,000,000 shares to cover accrued interest and principal. The company has the discretion to further extend the repayment date to November 19 or December 19, 2024. On October 11, 2024, Conduit Pharmaceuticals Inc. issued 2,781,250 shares of common stock in fulfillment of the obligations under the amendment. The details of the Convertible Note and the Loan Extension Amendment were filed with the SEC and are included as exhibits in the company's current report.

Conduit Pharmaceuticals Inc. has reported a material definitive agreement involving its wholly-owned subsidiary, Conduit Pharmaceuticals Limited, and the issuance of a Convertible Promissory Note to Vrezh Isayan and Sharon Lee Isayan. The note, originally due on September 20, 2024, with a principal amount of $800,000 and an interest rate of 20% per annum, was amendable to extend the maturity date to October 20, 2024. The amendment, effective as of September 20, 2024, also allowed for the issuance of $80,000 worth of the company's common stock and 2,000,000 shares to cover accrued interest and principal. The company has the discretion to further extend the repayment date to November 19 or December 19, 2024. On October 11, 2024, Conduit Pharmaceuticals Inc. issued 2,781,250 shares of common stock in fulfillment of the obligations under the amendment. The details of the Convertible Note and the Loan Extension Amendment were filed with the SEC and are included as exhibits in the company's current report.