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

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 10
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angements on such terms as the parties may agree (not to be unreasonably withheld, delayed or conditioned), and parties will reasonably
cooperate with each other in connection with such efforts. These financings may be structured as common equity, convertible preferred
equity, convertible debt, non-redemption or backstop arrangements with respect to our Trust Account, a committed equity facility, debt
facility, and/or other sources of cash proceeds on terms and conditions reasonably acceptable to EEW (but excluding any forward purchase
agreements unless consented to by EEW), and the investment may be into our Company, EEW or its subsidiaries or Pubco. The binding committed
amounts of any such transaction financing that is either paid or payable prior to or at the Closing or that the parties reasonably expect
at the Closing to start becoming available (in whole or in part) within 90 days after the Closing, net of all related transaction financing
costs and expenses, is referred to as “Additional Capital.” Our Company, EEW and Pubco will use our reasonable best efforts
to facilitate private placements of common equity or non-redemption or backstop arrangements with respect to our Trust Account yielding
at least $25 million in Additional Capital. EEW will consider in good faith any form or structure of transaction financing that is on
generally prevailing market terms or better, but may withhold our consent to any transaction financing that may require Pubco to issue
shares or otherwise raise equity after Closing at a price of less than $4.00 per share.

We
will use our commercially reasonable efforts to cause the holders of Founder Shares that received such shares pursuant to the Non-Redemption
Agreements (the “SPAC NRA Holders”) to sign the Second Insider Letter Amendment (as described below).

Conditions
to Closing

The
obligations of the parties to consummate the EEW Business Combination Agreement are subject to various conditions, including the following
mutual conditions of the parties of the EEW Business Combination Agreement unless waived: (i) the approval of the EEW Business Combination
Agreement and the EEW Business Combination and related matters by the requisite vote of our shareholders; (ii) expiration or termination
of any waiting period under applicable antitrust laws; (iii) receipt of all required consents from specified third parties and governmental
authorities, (iv) no law or order preventing or prohibiting the EEW Business Combination; (v) our Company, as of the Closing (after giving
effect to the