Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 128

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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v)
Neemuchwala, Burhan Jaffer, Satish Gupta, Steven Freiberg, Deborah C. Hopkins and Bill Owens (collectively, our “Prior Directors
and Officers”) resigned, and each member of our management team was appointed by our Sponsor; and (vi) we entered into a letter
agreement amendment with the Sponsors and the Prior Directors and Officers.

22

Extensions
of our Combination Period

We
initially had until October 19, 2023, 24 months from the closing of the Initial Public Offering, to consummate our initial Business Combination.

On
October 19, 2023, we held the 2023 EGM, at which our shareholders approved the Charter Amendment Proposals. In connection with the vote
to approve the Charter Amendment Proposals, Public Shareholders holding 16,045,860 Public Shares (after giving effect to withdrawals
of redemptions) exercised their right to redeem such Public Shares for cash at a redemption price of approximately $10.54 per Public
Share, for an aggregate redemption amount of approximately $169.1 million in the 2023 Redemptions.

On
July 18, 2024, we held the 2024 EGM to approve, among other things, the 2024 Extension Amendment Proposal. In connection with the vote
to approve the 2024 Extension Amendment Proposal, Public Shareholders holding 2,713,143 Public Shares (after giving effect to withdrawals
of redemptions) exercised their right to redeem such Public Shares for cash at a redemption price of approximately $10.92 per Public
Share, for an aggregate redemption amount of approximately $29.6 million in the 2024 Redemptions.

On
April 16, 2025, the Company held the 2025 EGM and the shareholders of the Company approved (i) the 2025 Extension Amendment Proposal
to the Combination Period from April 19, 2025 to April 20, 2026 (or such earlier date as determined by the Board of Directors) and (ii)
to eliminate the Redemption Limitation. In connection with the vote to approve the 2025 Extension Amendment Proposal, Public Shareholders
holding 2,370,619 Public Shares (after giving effect to withdrawals of redemptions) exercised their right to redeem such shares for a
pro rata portion of the funds in the Trust Account. As a result of the 2025 Redemptions, approximately $