Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 465

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 465
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31, 2023 and has been
HCG Opportunity, LLC, a Delaware limited liability company (the “Sponsor,” together, with the Legacy Sponsor, the “Sponsors”),
since August 31, 2023 (see Note 5).

The
Registration Statement on Form S-1 for the Initial Public Offering, initially filed with the Securities and Exchange Commission (the
“SEC”) on September 14, 2021, as amended (File No. 333-259502), was declared effective on October 14, 2021 (the “IPO
Registration Statement”). On October 19, 2021, the Company consummated the Initial Public Offering of 20,000,000 units (“Units”
and, with respect to the (i) Class A Ordinary Shares (as defined below) included in the Units offered, the “Public Shares”
and (ii) redeemable warrants included in the Units offered, the “Public Warrants”), at $10.00 per Unit, generating gross
proceeds of $200,000,000. Each Unit consists of one Class A Ordinary Share, par value $0.0001 per share, of the Company (the “Class
A Ordinary Shares”), and one-third of one Public Warrant (see Note 3).

Certain
institutional anchor investors that are not affiliated with the Company, the Legacy Sponsor, or the Company’s officers, directors,
or any member of the Company’s management (“Management” and such investors, the “Institutional Anchor Investors”)
purchased an aggregate of 20,000,000 Units in the Initial Public Offering. The Units were sold at an offering price of $10.00 per Unit,
generating gross proceeds of $200,000,000.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 4,666,667 warrants (the “Private Placement
Warrants,” and together with the Public Warrants, the “Warrants”) to the Legacy Sponsor at a price of $1.50 per Private
Placement Warrant, generating gross proceeds of $7,000,000 (such sale, the “Private Placement”) (see Note 4). Concurrently
with the closing of the Private Placement, the Institutional Anchor Investors paid the Legacy Sponsor $280,000 for the transfer of an
aggregate of 186,667 Private Placement Warrants, which transfer will take place upon the closing of the initial Business Combination.