--- title: "CDT Equity repays legacy notes and signs $1,460,000 JJ Astor loan" url: "https://aibio.space/news/cdt-equity-repays-legacy-notes-signs-1-460-000-jj-astor-loan/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-06-11" section: "Debt Financing" tickers: "NASDAQ:CDT" source: "https://www.sec.gov/Archives/edgar/data/1896212/000149315226028909/ex99-1.htm" summary: "CDT Equity agreed to pay off its Alliance Global Partners and Ascent Partners loans and signed a loan of up to $1,460,000 with JJ Astor & Co, which it says" --- By the aibio.space news desk. Sources - [CDT Equity Inc. 8-K (2026-06-16)](https://www.sec.gov/Archives/edgar/data/1896212/000149315226028909/ex99-1.htm) [CDT](https://aibio.space/companies/cdt-equity/) 2026-06-11 # CDT Equity repays legacy notes and signs $1,460,000 JJ Astor loan Tickers [CDT](https://aibio.space/companies/cdt-equity/) CDT Equity agreed to pay off its Alliance Global Partners and Ascent Partners loans and signed a loan of up to $1,460,000 with JJ Astor & Co, which it says is now its only loan facility. Its 2025 net loss was $39.2 million. ## Key facts - **Company**: CDT Equity Inc. (NASDAQ: CDT) - **News type**: Debt Financing - **Primary source**: [CDT Equity Inc. 8-K (2026-06-16)](https://www.sec.gov/Archives/edgar/data/1896212/000149315226028909/ex99-1.htm) *A downtown skyline with a highway in the foreground. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* ## The new loan CDT Equity Inc. (Nasdaq: [CDT](https://aibio.space/companies/cdt-equity/)) entered into a loan agreement with JJ Astor & Co on June 11, 2026 for up to $1,460,000 to support working capital. The company's 8-K describes the new loan as a senior secured convertible promissory note issued to J.J. Astor & Co., secured by a first-priority lien on the assets of the company and its UK subsidiary, which guarantees the loan, and issued with warrants. The 8-K itself gives terms the press release leaves out. The note's principal amount is higher than the $1,460,000 the company receives before closing fees, which is paid in two tranches. The note is payable in twenty-four equal weekly installments, and most of the net proceeds from the company's sales agreement with A.G.P. go first to those installments. It bears no interest unless an event of default occurs, when the amount owed rises and default interest compounds daily. Starting six months after closing, and subject to shareholder approval, the lender may convert at a discount to recent trading prices. The lender also received warrants that become exercisable only after stockholder approval. The lender has funded a first tranche of approximately $268k. The balance is subject to conditions that the company expects to satisfy in June 2026. ## Repaying the legacy notes The company agreed to pay off all amounts outstanding under its loan notes with Alliance Global Partners, known as A.G.P., and Ascent Partners. The A.G.P. convertible loan note, entered into in December 2024 with a principal amount of $5,737,500, was repaid in full at the beginning of June. The company will also repay $555,555.56, exclusive of interest, under a promissory note with Ascent Partners dated March 3, 2026. The company says the repayments eliminate more than $6.3 million of legacy financing obligations and liabilities from its balance sheet. Once they are made, the JJ Astor facility is the company's sole loan facility. The press release does not give the interest accrued on either repaid note. ## Who is named The lender on the new facility is JJ Astor & Co. The noteholders on the repaid debt were Alliance Global Partners and Ascent Partners. Neither the press release nor the 8-K names a placement agent, financial advisor or legal counsel for either transaction. A.G.P. appears twice: as the holder of the repaid note and as the sales agent whose proceeds go first to the new note. ## Losses and cash The annual report, filed April 15, 2026, shows the net loss widened to $39.2 million in 2025 from $17.8 million in 2024. Cash used in operations rose to $15.6 million from $9.7 million. Research and development expense was $5.1 million in 2025, against $3.4 million in 2024. Neither the 10-K passage nor the XBRL data cited here explains what drove the rest of the loss increase. At the end of 2024 the company held $554,000 in cash and cash equivalents and $600,000 in short-term investments. A loan of up to $1,460,000 is a small sum against cash use of $15.6 million in 2025, and the first tranche is smaller still. ## The business and its partner The annual report describes CDT as a data-driven pharmaceutical development company. It says the company seeks to license its assets to third parties after preclinical work, and that its model avoids the cost of early and late-stage clinical trials. Its pipeline targets autoimmune and inflammatory disorders, male infertility, dermatology and animal health. The annual report passage cited here gives no clinical results for any of those programs. Much of the company's technology comes through Sarborg Limited, under an agreement dated December 12, 2024. The annual report says Sarborg is a related party, because the chief executive, Dr. Andrew Regan, also sits on Sarborg's board, and a CDT director is a Sarborg shareholder. The press release's risk list also names the effect of a reverse stock split and the ability to keep its Nasdaq listing. ## What remains open The press release does not say whether the company has met the conditions for the balance of the loan. The note's principal exceeds the cash the company receives, so it must repay more than it gets, before any default terms apply. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CDT CDT Equity Inc. 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Cite as: aibio.space, "CDT Equity repays legacy notes and signs $1,460,000 JJ Astor loan", 2026-06-11, https://aibio.space/news/cdt-equity-repays-legacy-notes-signs-1-460-000-jj-astor-loan/