Conduit Pharmaceuticals Inc. will hold a virtual special meeting of stockholders on January 9, 2025 to approve the issuance of shares related to warrant exercises and note conversions. Shareholders will vote on issuing up to 2,862,596 shares for warrant exercises, 75 million shares for converting a senior secured note, and 58 million shares for converting a convertible note.The company is seeking approval to comply with Nasdaq rules regarding potential issuance of 20% or more of outstanding shares. If approved, the conversions could significantly dilute existing shareholders. Conduit faces penalties if the meeting is not held by January 9, 2025.The proposals relate to financing arrangements made in late 2024, including a bridge loan, senior secured note, and convertible note. Management recommends shareholders vote in favor of all proposals to provide the company with financial flexibility.

Conduit Pharmaceuticals Inc. will hold a virtual special meeting of stockholders on January 9, 2025 to approve the issuance of shares related to warrant exercises and note conversions. Shareholders will vote on issuing up to 2,862,596 shares for warrant exercises, 75 million shares for converting a senior secured note, and 58 million shares for converting a convertible note.The company is seeking approval to comply with Nasdaq rules regarding potential issuance of 20% or more of outstanding shares. If approved, the conversions could significantly dilute existing shareholders. Conduit faces penalties if the meeting is not held by January 9, 2025.The proposals relate to financing arrangements made in late 2024, including a bridge loan, senior secured note, and convertible note. Management recommends shareholders vote in favor of all proposals to provide the company with financial flexibility.