Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 166

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 166
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 the SEC on March 25, 2025 and (ii) Definitive Proxy Statement on Schedule 14A, as filed with the SEC on March 25, 2025. Any of these
factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risks
could arise that may also affect our business or ability to consummate an initial Business Combination. We may disclose changes to such
risk factors or disclose additional risk factors from time to time in our future filings with the SEC.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.

Unregistered
Sales of Equity Securities

None.

Use
of Proceeds

For
a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part II, Item 2 of our Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2021, as filed with the SEC on November 23, 2021. There has been no
material change in the planned use of proceeds from our Initial Public Offering and Private Placement as described in the IPO Registration
Statement. The specific investments in our Trust Account may change from time to time.

On
October 19, 2023, we instructed Continental to liquidate the investments held in the Trust Account and instead to hold the funds in the
Trust Account in an interest-bearing demand deposit account at Citibank, N.A., with Continental continuing to act as trustee, until the
earlier of the consummation of our initial Business Combination or our liquidation. As a result, following the liquidation of investments
in the Trust Account, the remaining proceeds from the Initial Public Offering and Private Placement are no longer invested in U.S. government
securities or money market funds invested in U.S. government securities.

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers

On
April 16, 2025, we held the 2025 EGM and our shareholders approved, among other things, the 2025 Extension Amendment Proposal, which
extended the Combination Period from April 19, 2025 to April 20, 2026 (or such earlier date as determined by the Board of Directors).
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