MURF SEC filings, in plain English
Everything Murphy Canyon Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 15 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: CDT Equity Inc. filed Amendment No. 2 to its July 30, 2026 Form 8-K on August 21, 2026, adding the audited financial statements of acquired business Sarborg Limited for fiscal years ended December 31, 2025 and 2024, unaudited interim financials for the six months ended June 30, 2026, and unaudited pro forma consolidated financial information. Why it matters: As Murphy Canyon Acquisition Corp. is closed, this filing provides the required post-merger financial transparency regarding the target company's historical performance and the combined entity's projected financial position, rather than tracking redemption deadlines or trust value.
What changed: CDT Equity Inc. filed an 8-K/A on August 21, 2026, to include the audited financial statements of acquired business Sarborg Limited for fiscal years ended December 31, 2025 and 2024, as well as unaudited pro forma consolidated financial information. Why it matters: Investors tracking redemption deadlines or trust value should note that this filing is routine post-combination disclosure; it does not contain new redemption dates, extension terms, or changes to the trust account balance.
What changed: Q2 2026 10-Q of CDT Equity Inc. (Nasdaq: CDT). The balance sheet changed shape: equity method investments of $122,846 thousand appear where there were none at December 31, 2025, taking total assets to $126,708 thousand from $5,650 thousand, with an $8,000 thousand investment payable recorded. Additional paid-in capital rose to $179,964 thousand from $61,171 thousand and total stockholders' equity turned to $103,093 thousand from a $(7,170) thousand deficit. Cash fell to $747 thousand from $1,509 thousand. Why it matters: The company's assets are now overwhelmingly a single equity-method investment position of $122.8 million funded by share issuance, against $747 thousand of cash. The share count rose roughly 68-fold over the half-year.
combination deadline, going-concern doubt, mandate languagenothing moved · 3 with no prior record of ours
- Combination deadline
- 2027-03-31 · unchanged
- Going-concern doubt
- stated · unchanged
- Mandate language
- focus our efforts on developing clinical assets to address d… · unchanged
The clause …“previous extension date of May 2, 2025 to extend the term of the license to March 31, 2027 at no additional cost to the Company. The Company recorded the fair value of $ 1.5 million as prepaid within the consolidated balance sheet as”…
The clause …“Stock Splits occurred as of the earliest period presented. 6 2. Liquidity and Going Concern In accordance with ASC 205-40, Going Concern, the Company has evaluated whether there are conditions and events, considered in the aggregate,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: CDT Equity Inc. filed a supplement to the definitive proxy statement filed August 11, 2026 for its 2026 annual meeting of stockholders, to be held August 28, 2026 at 10:00 a.m. Eastern Time. The supplement states it is being filed solely to correct an administrative oversight regarding certain voting options on the original proxy card for Proposal No. 1, the election of directors, and that except as described in it the information in the proxy statement remains unchanged and continues to apply in all respects. Why it matters: A proxy-card correction rather than a change to what is being voted on. It matters only to a holder who already returned the original card for the director election and may need the corrected one; nothing about the company, its cash or its plans changes.
What changed: CDT Equity Inc. (formerly Murphy Canyon Acquisition Corp.) filed a DEF 14A for its 2026 annual meeting on August 28, 2026, seeking approval of a reverse stock split (1-for-2 to 1-for-500), issuance of shares under a senior secured convertible note to J.J. Astor Co., and issuance of up to 12,131,770 shares upon exercise of pre-funded warrants. The filing also discloses the December 2025 sale of subsidiary Conduit Pharmaceuticals Limited to Corvus Capital (CEO Andrew Regan's firm) for $7,000,000 settled in stock and pre-funded warrants. Why it matters: The post-merger company has only 786,716 shares outstanding and is seeking authorization for aggressive reverse splits and large share issuances, signaling severe dilution and capital-structure risk. The sale of CPL to the CEO's own firm for $7M in equity raises significant related-party concerns and effectively transfers litigation liability to an insider entity.
What changed vs 2026-03-06going concern APPEAREDgoing-concern doubt, pipe1 moved · 1 with no prior record of ours
- Going-concern doubt
- not statedstated
- PIPE
- no earlier filing$20.0M
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“an explanatory paragraph regarding the Company stating that there was substantial doubt about the Company’s ability to continue as a going concern. From the period starting April 25, 2025 through June 23, 2026, there were (i) no”…
The clause “September 2023, concurrently with the completion of the Merger, pursuant to the PIPE Subscription Agreement (the “PIPE Subscription Agreement “) for an aggregate purchase price of $20.0 million, the Company issued an aggregate of 1 share”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: MURF's post-closing entity CDT Equity Inc. amended its $1,971,000 senior secured convertible note with lender J.J. Astor Co., adding a $377,775 restructuring premium (new principal balance $2,266,650), raising the interest rate to 19% (24% on default), increasing the lender's ATM waterfall share from 80% to 90%, and rescheduling 23 weekly payments of $104,187.65 from August 19, 2026 through January 20, 2027. Why it matters: The amendment reveals CDT Equity missed three weekly installments totaling $246,375 and failed to file a required registration statement, prompting the lender to extract a 19% premium and tighter terms while reserving all default rights; any future payment miss voids the accommodation and triggers immediate default with no grace period.
What changed: Amendment to Murphy Canyon Acquisition Corp.'s Form 8-K reporting completion of an acquisition under Item 2.01, incorporating by reference the Item 1.01 and Item 3.02 disclosure from the original report. Its substance is a timing notice: the financial statements of the acquired business required by Item 9.01(a) and the pro forma financial information required by Item 9.01(b) will be filed by a further amendment as soon as practicable, and no later than 71 calendar days after the original report was due. Why it matters: Immaterial on its own - it adds no financial data, no purchase price and no description of the acquired business, only the standard 71-day deferral for target financials and pro formas. The usable point is the deadline: the audited target statements and pro forma balance sheet, which are the first hard numbers on what the combined company actually looks like, are due within 71 days of the original report's due date, and a further slip past that would itself be a signal.
What changed: CDT Equity Inc., the Murphy Canyon Acquisition Corp. successor, entered a Securities Purchase Agreement on July 30, 2026 with certain stockholders of Sarborg Limited, a Cayman company, to acquire 270 Sarborg shares representing approximately 4.76% of Sarborg's outstanding common stock. Consideration is pre-funded warrants over up to 12,131,770 CDT shares at $0.0001, unexercisable until stockholders approve issuance above 19.99% of the shares or voting power outstanding at the agreement date under Nasdaq rules. CDT will file a resale registration. Why it matters: The company is paying for a 4.76% minority stake with warrants over 12.1 million shares exercisable at a hundredth of a cent — economically the same as issuing the stock outright. The Nasdaq 19.99% threshold in the agreement confirms the issuance would exceed a fifth of the company, so this single purchase materially reshapes the register and requires a stockholder vote before it can complete. A resale registration means those shares are intended to reach the market rather than be held.
What changed: CDT Equity Inc., the Murphy Canyon Acquisition Corp. successor, filed a preliminary proxy for a virtual 2026 annual meeting on Friday, August 28, 2026 at 10:00 a.m. ET, with an August 3, 2026 record date, to elect five director nominees to one-year terms. It discloses a $7,000,000 settlement satisfied by issuing common stock and pre-funded warrants; an August 6, 2024 senior secured note and security agreement with Nirland since repaid in full; and an October 28, 2024 note to Nirland, a related party, for $0.6 million. Why it matters: The financing history is the substance here: a $7,000,000 settlement paid in stock and pre-funded warrants is dilution imposed by litigation rather than chosen, and related-party notes from Nirland show who has been funding the company since the SPAC's trust was exhausted. The August 2024 secured note being repaid in full removes one senior claim, but the October 2024 note remains outstanding to the same related party. Being preliminary, the proxy's terms may change before the definitive version.
pipenothing moved · 1 with no prior record of ours
- PIPE
- not previously extracted$20.0M
The clause “September 2023, concurrently with the completion of the Merger, pursuant to the PIPE Subscription Agreement (the “PIPE Subscription Agreement “) for an aggregate purchase price of $20.0 million, the Company issued an aggregate of 1 share”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: CDT Equity, Inc., the Murphy Canyon Acquisition Corp. successor, reported that on July 24, 2026 it issued 32,110 shares of common stock at a value of $3.27 per share to a service provider as consideration for consulting services. The shares were issued in reliance on the Section 4(a)(2) exemption from registration as a transaction not involving a public offering. No cash changed hands and no other terms, vesting conditions or identification of the service provider are disclosed. The report is signed by Chief Executive Officer Andrew Regan. Why it matters: Paying advisers in stock rather than cash is the marker of a company conserving liquidity, and at $3.27 per share this issuance is worth roughly $105,000 — immaterial on its own but part of a pattern at this issuer, which has also settled litigation in stock and pre-funded warrants and agreed to pay for an acquisition with warrants over 12.1 million shares. Each such issuance is small; the cumulative effect on the share count is what a holder should track.
What changed: CDT Equity Inc., the Murphy Canyon Acquisition Corp. successor, filed a certificate of amendment in Delaware on July 15, 2026 to effect a 1-for-10 reverse stock split, using authority stockholders had previously granted the board to set the ratio and timing of future splits. The split becomes effective at 5:00 p.m. ET on July 17, 2026, with split-adjusted trading on the Nasdaq Capital Market expected from the open on July 20, 2026 under the existing symbol CDT and a new CUSIP number 20678X601. No fractional shares will be issued; holders otherwise entitled to one receive cash in lieu. Why it matters: The board executed this split without returning to stockholders because a prior vote handed it standing authority over ratio and timing — so further consolidations can follow the same way. That matters at an issuer whose share count went from 92,140 at the end of 2025 to over 6.3 million by July 2026 through convertible notes and stock-settled obligations: each round of issuance is followed by a split, and the cycle can repeat without another vote. Fractional holders are cashed out rather than rounded up.
What changed: CDT Equity Inc., the Murphy Canyon Acquisition Corp. successor, filed its 10-Q for the quarter ended March 31, 2026. Operating losses were $3.7 million against $3.6 million a year earlier, with net losses and negative operating cash flow since inception funded by convertible debt, private placements and the A.G.P. sales agreement of October 23, 2024. Shares outstanding went from 92,140 at December 31, 2025 to 4,722,457 at March 31, 2026 and 6,310,778 by July 15. It issued a $5.7 million convertible note to A.G.P. for deferred commissions and $0.6 million to Ascent. Why it matters: The share count multiplied more than fiftyfold in a single quarter and rose again by a third in the following three months, which is what happens when operating losses of $3.7 million a quarter are funded entirely by convertible instruments carried at fair value. Converting a $5.7 million deferred underwriting commission into a convertible note turns a fixed payable into equity dilution. The 1-for-10 reverse split executed in July resets the price but not the mechanism producing the shares.
What changed vs 2025-11-13deadline 2024-12-19 → 2027-03-31combination deadline, going-concern doubt, mandate language1 moved · 2 with no prior record of ours
- Combination deadline
- 2024-12-192027-03-31
- Going-concern doubt
- stated · unchanged
- Mandate language
- focus our efforts on developing clinical assets to address d… · unchanged
SpacBrain reads this as 832 days later than the previous record.
The clause …“previous extension date of May 2, 2025 to extend the term of the license to March 31, 2027 at no additional cost to the Company. The Company recorded the fair value of $ 1.5 million as prepaid within the consolidated balance sheet as”…
The clause …“Stock Splits occurred as of the earliest period presented. 2. Liquidity and Going Concern In accordance with ASC 205-40, Going Concern, the Company has evaluated whether there are conditions and events, considered in the aggregate,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: CDT Equity Inc., the Murphy Canyon Acquisition Corp. successor, closed the second tranche of its loan from J.J. Astor & Co. by entering an Amended and Restated Loan Agreement and Amended and Restated Senior Secured Convertible Note on June 30, 2026. The note has a principal amount of $1,971,000 while the company receives $1,460,000 before closing fees, funded in two tranches. Twenty-four equal weekly instalments of $82,125 now begin on July 10, 2026, having previously been agreed to start on June 18, 2026. Why it matters: The company books $1,971,000 of principal for $1,460,000 of cash, a 26% discount before fees, and must then repay $82,125 every week for twenty-four weeks — about $1.97 million of cash out over six months at a company reporting $3.7 million of quarterly operating losses. Because the note is convertible and senior secured, failure to meet the weekly schedule converts into stock at whatever the price then is. Pushing the first instalment from June 18 to July 10 shows the schedule was already under strain.
What changed: Item 4.01. On June 23, 2026 the audit committee of CDT Equity Inc. approved dismissing CBIZ CPAs P.C. as independent registered public accounting firm and engaging Carr, Riggs & Ingram, L.L.C. CBIZ CPAs' audit report for the year ended December 31, 2025 contained no adverse opinion or disclaimer and was not qualified, except for an explanatory paragraph stating substantial doubt about going concern. The filing recites that Marcum LLP was dismissed on April 24, 2025 and CBIZ CPAs appointed on April 25, 2025. Why it matters: Three audit firms in roughly fourteen months - Marcum out in April 2025, CBIZ CPAs in and now out in June 2026, CRI in - is a pattern rather than an event, and repeated auditor turnover at a company already carrying a going-concern paragraph is the combination that most often precedes restatements or late filings. The filing does not state whether there were disagreements with CBIZ CPAs in the excerpt available, so that disclosure should be checked directly before drawing a conclusion about cause.
What changed: Item 1.01: on June 11, 2026 CDT Equity Inc. issued a senior secured convertible promissory note to J.J. Astor & Co. with a principal amount of $1,971,000 under a Loan Agreement. The company will receive $1,460,000 before closing fees, funded in two tranches. Subsidiary CDT Equity Ltd. gave a Guaranty and both granted the lender a first priority lien over their collateral. The note is payable over twenty-four equal weekly installments of $82,125 beginning June 18, 2026, in cash or, once a resale registration statement is effective, in shares on conversion. Why it matters: The economics are punitive: the company receives $1,460,000 before closing fees against a $1,971,000 face amount, and must repay $82,125 every week for twenty-four weeks starting one week after signing. That is $1,971,000 of scheduled service demanded from a borrower that needed $1.46 million, and the alternative to cash is conversion into common stock once a resale registration statement is effective, which puts continuing share issuance into the market. The loan is senior secured with a first priority lien over all collateral of the company and its UK subsidiary.
- What changed vs 2025-03-28deadline 2024-12-19 → 2027-12-29mandate language changed
combination deadline, mandate language, going-concern doubt2 moved · 1 with no prior record of ours
- Combination deadline
- 2024-12-192027-12-29
- Mandate language
- we intend to target a wide range of autoimmune disorders.…focus our efforts on developing clinical assets to address d…
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 1105 days later than the previous record.
The clause …“twelve months from its initial termination date, December 29, 2026, to December 29, 2027, unless terminated earlier in accordance with the terms of the NJS Agreement. As consideration for entering into the addendum, the Company”…
The clause …“to us. Risks Related to Finances and Capital Requirements ● There is substantial doubt regarding our ability to continue as a going concern. We will need to raise additional funding, which may not be available on acceptable”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.