Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 402

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 402
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 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.

26

    (h)
    Purchases
    of Equity Securities by the Issuer and Affiliated Purchasers

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.

There
were no such repurchases of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.

    Item
    6.
    [Reserved]

    Item