Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 225

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 225
---
 from the Trust Account with respect to such Public Shares if we fail to
complete our initial Business Combination within the Combination Period.

Additionally,
pursuant to the Insider Letter, the Insider Letter Amendment and the Second Insider Letter Amendment, they will not propose any amendment
to our Amended and Restated Charter (i) to modify the substance or timing of our obligation to allow redemption in connection with our
initial Business Combination or to redeem 100% of our Public Shares if we do not complete our initial Business Combination within the
Combination Period or (ii) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business
Combination activity, unless we provide our Public Shareholders with the opportunity to redeem their Public Shares upon approval of any
such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the funds held in the Trust Account and not previously released to us to pay our taxes, divided by the number of then outstanding
Public Shares.

For
more information on the agreements entered into in connection with the EEW Business Combination, see Item 1. “Business.”

Director
Independence

The
Nasdaq Rules that a majority of our Board of Directors be independent within one year of our Initial Public
Offering. An “independent director” is defined generally as a person who, in the opinion of the company’s board of
directors, has no material relationship with the listed company (either directly or as a partner, shareholder, shareholder or
officer of an organization that has a relationship with the company). Our Board of Directors has determined that Joseph Beck, Anna
Brunelle, Kirk Hovde and Matt Schindel are “independent directors” as defined in the Nasdaq Rules and applicable
SEC rules. Our independent directors have regularly scheduled meetings at which only independent directors are present.

54

    Item
    14.
    Principal
    Accountant Fees and Services.

Effective
as of September 5, 2023, the Board of Directors and the Audit Committee authorized dismissal of Marcum LLP (“Marcum”) and
engagement of Withum as our new independent registered public accounting firm. For more information on this change in our independent
registered public accounting firm, please see our Current Report on Form 8-K filed with the SEC on December 15, 2023.

The
following is a summary of fees paid or to be paid to Marcum and With