Corvus Capital Ltd., an entity indirectly controlled by CDT Equity Inc. CEO Andrew Regan, completed a cashless exercise of 5,436,830 pre-funded warrants in CDT Equity on August 28, 2026. The transaction resulted in the acquisition of 5,436,540 CDT common shares at an exercise price of $0.0001 per share, while 290 shares were withheld by the company to cover the nominal consideration, resulting in a $0 cash outlay.
CDT Equity’s shares were trading at $0.83 on the date of the transaction, valuing the company at approximately $0.72 million based on its market capitalization. The firm’s indirect stake in Sarborg Limited, a portfolio company valued at $638.3 million following a recent fundraising round, was recorded at $127.5 million in CDT Equity’s books.
The warrant exercise was part of a broader corporate restructuring. CDT Equity eliminated $6.3 million in obligations by repaying loan notes held by Alliance Global Partners and Ascent Partners. Concurrently, the company secured a new $1.46 million loan facility from lender JJ Astor.
CDT Equity also disclosed a 1-for-10 reverse stock split to comply with Nasdaq’s bid-price requirements. The split became effective on September 5, 2026, with trading on a split-adjusted basis commencing the following Monday. The company’s board approved the move to maintain its listing status.
Andrew Regan serves as CEO and sole shareholder of Corvus Capital Ltd., which holds a 99% equity interest in Manoira Corporation. Regans’ direct and indirect beneficial ownership in CDT Equity totals 5,698,533 shares, including 5,600 shares held directly and an additional 773 shares through Manoira Corporation.
