CDT Equity amends $1.97M convertible loan terms
CDT Equity Inc. updated the terms of an existing financing arrangement with J.J.
Rhea-AI Filing Summary
CDT Equity Inc. updated the terms of an existing financing arrangement with J.J. Astor & Co. by entering into an Amended and Restated Loan Agreement and Amended and Restated Senior Secured Convertible Promissory Note on June 30, 2026. The original Note has a principal amount of $1,971,000, with the Company receiving $1,460,000 in loan proceeds funded in two tranches. The amendment closes the second tranche and reschedules repayment so that twenty-four equal weekly installments of $82,125 now begin on July 10, 2026, instead of the previously agreed start date of June 18, 2026. The filing also records this as a direct financial obligation and attaches the full amended note and loan agreement as exhibits.
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8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Note Principal Amount: $1,971,000
Loan Proceeds: $1,460,000
Weekly Installment: $82,125
+3 more
6 metrics
Note Principal Amount
$1,971,000
Principal amount of senior secured convertible promissory note
Loan Proceeds
$1,460,000
Cash the company will receive before closing fees
Weekly Installment
$82,125
Amount of each of the 24 weekly repayments
Number of Installments
24 payments
Equal weekly installment payments under amended schedule
Installment Start Date
July 10, 2026
New repayment commencement date under amended agreement
Original Disclosure Date
June 11, 2026
Date the original note issuance was previously disclosed
Key Terms
senior secured convertible promissory note, Amended and Restated Loan Agreement, Amended and Restated Senior Secured Convertible Note, Material Definitive Agreement, +2 more
6 terms
senior secured convertible promissory note financial
"issued a senior secured convertible promissory note (the “Note”) to J.J. Astor & Co."
A senior secured convertible promissory note is a formal IOU a company issues that is backed by specific assets (secured), given higher priority for repayment than other debts (senior), and can be exchanged for company shares instead of cash (convertible). For investors this means the loan is safer than unsecured debt because it has collateral and repayment priority, but it also carries the potential for dilution if the lender converts the note into equity — like holding a mortgage-backed IOU that can later be swapped for ownership stakes.
Amended and Restated Loan Agreement financial
"entered into an Amended and Restated Loan Agreement (the “Amended Loan Agreement”)"
An amended and restated loan agreement is a rewritten version of an existing loan contract that replaces the old document and sets new borrowing terms—such as interest rates, repayment schedule, collateral and rules for the borrower. Think of it like renegotiating and reprinting a mortgage with changed monthly payments or house rules. Investors care because these changes affect a company’s cash flow, risk of default and financial flexibility, which can influence credit ratings and share value.
Amended and Restated Senior Secured Convertible Note financial
"and an Amended and Restated Senior Secured Convertible Note (the “Amended Note”)"
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
direct financial obligation regulatory
"Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What loan agreement did CDT (CDT) amend in this 8-K?
CDT Equity Inc. amended its senior secured convertible promissory note and related loan agreement with J.J. Astor & Co. The original note has a principal amount of $1,971,000 tied to a previously disclosed financing.
How much cash will CDT (CDT) receive under the amended loan?
CDT Equity will receive $1,460,000 in loan proceeds before closing fees under the amended arrangement. The financing is funded in two tranches, with the June 30, 2026 amendment closing the second tranche.
What are the repayment terms for CDT (CDT) after this amendment?
The amended terms require twenty-four equal weekly installment payments of $82,125. These installment payments now commence on July 10, 2026, replacing the earlier mutually agreed start date of June 18, 2026.
Who is the lender in CDT (CDT)’s amended convertible note?
The lender is J.J. Astor & Co., which holds the senior secured convertible promissory note. CDT Equity and the lender entered into an Amended and Restated Loan Agreement and Amended and Restated Note on June 30, 2026.
Does this CDT (CDT) filing create a direct financial obligation?
Yes. The filing identifies the amended senior secured convertible note and loan agreement as a direct financial obligation. The information from the material definitive agreement section is incorporated into the direct obligation disclosure.
What exhibits are attached to CDT (CDT)’s June 30, 2026 loan amendment?
The filing includes the Form of Amended and Restated Senior Secured Convertible Promissory Note as Exhibit 10.1 and the Amended and Restated Loan Agreement dated June 30, 2026 as Exhibit 10.2, plus an Inline XBRL cover page file.
AI-generated analysis. How Rhea-AI works. Not financial advice.
