Company: CDAQF
Filing Date: 2025-03-13
Form Type: PRE 14A
Source: 0001493152-25-010116
Chunk: 72

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-13
Form: PRE 14A
Chunk 72
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less taxes payable and up to $50,000 of interest to pay dissolution expenses), divided by the number of then Public Shares in issue, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and the Board, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. There will be no redemption rights or liquidating distributions with respect to our Warrants, which will expire worthless if we fail to complete a Business Combination within the Combination Period. In the event of a liquidation, our Sponsors and our officers and directors will not receive any monies held in the Trust Account as a result of their ownership of the Founder Shares or the Private Placement Warrants. As a consequence, a liquidating distribution will be made only with respect to the Public Shares.

The Sponsors have waived their rights to participate in any liquidating distribution with respect to their Founder Shares.

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Redemption Rights

Pursuant to the Amended and Restated Charter, Public Shareholders may seek to redeem their Public Shares for cash, regardless of whether they vote for or against, or whether they abstain from voting on, the Charter Amendment Proposals. In connection with the Charter Amendment Proposals, any Public Shareholder may demand that we redeem such Public Shares for a full pro rata portion of the Trust Account (which, for illustrative purposes, was $ per Public Share as of , the most recent practicable date prior to the date of this Proxy Statement), which is expected to be the same approximate amount two business days prior to the Meeting. If a Public Shareholder properly seeks such redemption, we will redeem these Public Shares for a pro rata portion of funds deposited in the Trust Account and the Public Shareholder will no longer own these Public Shares following the Meeting.

See the section of this Proxy Statement entitled “ Proposal One — The Third Extension Amendment Proposal — Redemption Rights” for more information on the redemption rights of Public Shareholders in connection with the Charter Amendment Proposals.

Vote Required for Approval

The approval of the Redemption Limitation Amendment Proposal requires a special resolution under Cayman Islands law, being the affirmative vote of a majority of at least two-thirds (2/3) of the votes cast by