Company: CDAQF
Filing Date: 2025-03-13
Form Type: PRE 14A
Source: 0001493152-25-010116
Chunk: 13

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-13
Form: PRE 14A
Chunk 13
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 has determined that it is in the best interests of our Company to extend the date by which we have to consummate the EEW Business Combination (or if the EEW Business Combination is not consummated, another initial Business Combination) to the Third Extended Date in order for our shareholders to have the opportunity to participate in our future investment. Additionally, without the Redemption Limitation Amendment, the Board may not be able to proceed with the Third Extension if, following the Third Extension Redemptions (as defined below), we would not have at least $5,000,001 in net tangible assets as currently required by the Amended and Restated Charter. If that were to occur, we would be forced to liquidate on April 19, 2025. We will not proceed with the Third Extension unless (i) the Redemption Limitation Amendment Proposal is approved or (ii) we will have at least $5,000,001 of net tangible assets following approval of the Third Extension Amendment Proposal, after taking into account the Third Extension Redemptions. We cannot predict the amount that will remain in the Trust Account (as defined below) following the Third Extension Redemptions, if the Charter Amendment Proposals are approved, and the amount remaining in the Trust Account may be significantly less than the approximately $ that was in the Trust Account as of .

If the Charter Amendment Proposals are approved, subject to satisfaction of the conditions to closing in the EEW Business Combination Agreement (including, without limitation, receipt of shareholder approval of the EEW Business Combination), we intend to complete the EEW Business Combination as soon as possible, and in any event, on or before the Third Extended Date. However, there is no assurance that we will be able to consummate the EEW Business Combination, given the actions that must occur prior to closing of the EEW Business Combination.

As contemplated by the Amended and Restated Charter, the holders (the “ Public Shareholders”) of our Class A ordinary shares, par value $0.0001 per share (the “ Class A Ordinary Shares”) included as part of the units (the “ Units” and the shares included within, the “ Public Shares”) sold in the IPO may elect (the “ Election”) to redeem their Public Shares in connection with the approval of the Third Extension Amendment Proposal at a per share price, payable in cash, equal to the aggregate amount then on deposit in the U.S.-based trust account, established to hold a portion of the proceeds of the IPO and the Private Placement (as