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CDT SCHEDULE 13D/A: Activist campaign

Filed with the SEC on · accession 0001753926-26-002067

CDT filed a SCHEDULE 13D/A (schedule 13d/a) with the SEC on Nov 6, 2026. Corvus Capital Limited, led by Dr. Andrew Regan, CDT Equity's largest shareholder with approximately 22.15% ownership, sent an open letter to the Board of Directors on November 5, 2026, expressing intent to take the company private at $2.00 per share, a 96.3% premium to the November 4 closing price. The stock moved +54.8% by the first close after the filing.

Summary of the filing

Corvus Capital Limited, led by Dr. Andrew Regan, CDT Equity's largest shareholder with approximately 22.15% ownership, sent an open letter to the Board of Directors on November 5, 2026, expressing intent to take the company private at $2.00 per share, a 96.3% premium to the November 4 closing price. The letter also demands the suspension of the at-the-market equity program, formation of an independent committee, and appointment of an additional independent director.

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Key details

Proposed acquisition price per share$2
Premium to November 4, 2026 closing price$96
Shares owned by Corvus and affiliates$2.1M
Percentage of shares outstanding owned$22
CDT Equity's holding in Sarborg (shares)$1K
CDT Equity's ownership percentage in Sarborg$23
Total consideration paid for Sarborg stake$123.0M
Current estimated value of Sarborg stake$161.0M
Stockholders' equity as of June 30, 2026$103.0M
Closing price on November 4, 2026$1
Market capitalization based on shares outstanding$1.0M
Shares outstanding$1.0M
Activist investor, largest shareholder of cdt equity inc.Corvus Capital Limited
Beneficial owner of cdt equity shares alongside corvusManoira Limited
Cdt equity's principal asset; corvus owns ~43% of sarborgSarborg Limited
Target companyCDT Equity Inc.
Largest shareholder, ceo of corvus capital limited and sarborg limited, former ceo of cdt equity inc.Dr. Andrew Regan

How CDT stock reacted

Close before

$0.85

Nov 5, 2026

First close after

+54.85%

$1.31

5 trading days

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Since filing

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Frequently asked questions

What did CDT file with the SEC on Nov 6, 2026?

CDT filed a SCHEDULE 13D/A (Activist campaign). Corvus Capital Limited, led by Dr. Andrew Regan, CDT Equity's largest shareholder with approximately 22.15% ownership, sent an open letter to the Board of Directors on November 5, 2026, expressing intent to take the company private at $2.00 per share, a 96.3% premium to the November 4 closing price. The letter also demands the suspension of the at-the-market equity program, formation of an independent committee, and appointment of an additional independent director.

What does a activist campaign mean for CDT stock?

A settlement removes uncertainty; the stock often reacts to whether the amount is bigger or smaller than investors expected.

How do I read a SCHEDULE 13D/A?

A report the company filed with the SEC (the US market regulator). Start with the summary, then the key amounts and names. Compare it with the company’s earlier filings.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A SCHEDULE 13D/A (schedule 13d/a): A report the company filed with the SEC (the US market regulator).

How did CDT stock react to this filing?

CDT closed at $0.85 before the filing and $1.31 on Nov 6, 2026 (+54.85%).

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