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

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 25
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 our Company. A
quorum for such meeting will be present if the holders of a majority of issued and outstanding shares entitled to vote at the meeting
are represented in person or by proxy. Our Sponsors, Prior Directors and Officers will count toward this quorum and, pursuant to the
Insider Letter, our Sponsors, Prior Directors and Officers, and directors and officers have agreed to vote their Founder Shares, Private
Placement Shares and any Public Shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated
transactions) in favor of our initial Business Combination. For purposes of seeking approval of an ordinary resolution, non-votes will
have no effect on the approval of our initial Business Combination once a quorum is obtained. As a result of the Sponsor
Handover, the Founder Share Conversions and the Extension Redemptions, assuming all outstanding shares are voted, our Sponsors
hold 68.15% of our issued and outstanding Ordinary Shares and we will not require the vote of the holders of any of the Public Shares
to be voted in favor of an initial Business Combination in order to have our initial Business Combination approved. These quorum and
voting thresholds, and the voting agreement of our Sponsors and Prior Directors and Officers, may make it more likely that we will consummate
our initial Business Combination. Each Public Shareholder may elect to redeem their Public Shares without voting, and if they do vote,
irrespective of whether they vote for or against the proposed Business Combination.

If
we conduct redemptions pursuant to the tender offer rules of the SEC, we will, pursuant to our Amended and Restated Charter:

    ●
    conduct the redemptions
    pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers; and

    ●
     file tender offer
    documents with the SEC prior to completing our initial Business Combination which contain substantially the same financial and other
    information about the initial Business Combination and the redemption rights as is required under Regulation 14A of the Exchange
    Act, which regulates the solicitation of proxies. 

In
the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days,
in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial Business Combination until
the expiration of the tender offer period.