CDT Equity Inc. filed a Form 8-K on November 9, 2026, disclosing that Dr. Andrew Regan, the company's former CEO, delivered a letter on November 5, 2026, on behalf of Corvus Capital Limited, stating an intent to make a non-binding proposal to acquire all outstanding common stock of the company at $2.00 per share.

Key Highlights

  • Proposed acquisition price: Corvus Capital Limited stated an intent to propose $2.00 per share for all outstanding common stock of CDT Equity Inc.
  • Premium stated: The filing describes the $2.00 price as "representing a 96.3% premium, on a post-split basis, to the closing price of the Company's common stock on November 4, 2026."
  • Proposal source: Dr. Andrew Regan, the former CEO, delivered the letter as a significant stockholder through his own shareholding and his beneficial ownership of Corvus Capital Limited and Manoira Limited.
  • Special Committee formation: The Board intends to form a special committee of independent directors and will delegate full authority to it to consider, negotiate, and vote upon the proposal.
  • No definitive terms received: According to the filing, "the Special Committee has not received any definitive terms of the Proposal and has not made any decision with respect to the Proposal."
  • No assurance of a transaction: The filing states "there can be no assurance that any transaction will result from the Special Committee's evaluation of the Proposal."

Corvus Capital's Non-Binding Buyout Proposal and CDT Equity's Board Response

According to the Form 8-K filed with the SEC on November 9, 2026, by CDT Equity Inc. (NASDAQ:CDT), Dr. Andrew Regan delivered a letter to the company's Board of Directors on November 5, 2026. The letter was delivered in Dr. Regan's capacity as a significant stockholder, through his own shareholding and his beneficial ownership of Corvus Capital Limited and Manoira Limited. The filing states that the letter, on behalf of Corvus, indicated an intent to make a non-binding proposal to acquire all outstanding common stock at $2.00 per share, absent a proposal from the Board.

The company disclosed that the $2.00 per share price represents "a 96.3% premium, on a post-split basis, to the closing price of the Company's common stock on November 4, 2026." In response, the Board stated it intends to form a special committee of independent directors, delegating full authority to that committee to consider, negotiate, and vote upon the proposal. The Special Committee will also consider other proposed transactions and any strategic alternatives put forth in connection with the proposal.

The filing makes clear that the proposal remains non-binding and preliminary. The company noted that the Special Committee has not received definitive terms and has made no decision. The filing includes forward-looking statements that the company identifies as subject to its cautionary language under the U.S. Private Securities Litigation Reform Act of 1995, noting that actual results could "differ materially" from those statements. The 8-K was signed by James Bligh, Chief Executive Officer and Chief Financial Officer of CDT Equity Inc.

What Was Disclosed

CDT Equity Inc. disclosed receipt of a letter from former CEO Dr. Andrew Regan, on behalf of Corvus Capital Limited, expressing intent to propose acquiring all outstanding common stock at $2.00 per share. The Board plans to form a special committee of independent directors to evaluate the proposal.