Company: CDAQF
Filing Date: 2025-03-13
Form Type: PRE 14A
Source: 0001493152-25-010116
Chunk: 54

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-13
Form: PRE 14A
Chunk 54
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 among other things, the First Extension. In connection with the vote to approve the First Extension, 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 (the “ 2023 Redemptions”).

On July 18, 2024, we held the Second Shareholder Meeting to approve, among other things, the Second Extension. In connection with the vote to approve the Second Extension, 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 (the “2024 Redemptions” and together with the 2023 Redemptions, the “ Prior Extension Redemptions”).

In connection with the Second Shareholder Meeting, we agreed to waive our right to withdraw up to $100,000 of interest accrued on the Trust Account to pay dissolution expenses, as permitted by the Amended and Restated Charter, should we ultimately liquidate before consummating a Business Combination. Instead, we agreed that we will withdraw only up to $50,000 of interest for such dissolution expenses upon liquidation, and any remaining interest accrued will be held in the Trust Account and will, subject to applicable law, be released to Public Shareholders upon the redemption of 100% of the Public Shares if we are unable to complete a Business Combination within the Combination Period.

For more information about the prior extensions of our Combination Period, see the 2024 Annual Report.

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Founder Share Conversions

On October 19, 2023, following the approval by our shareholders at the First Shareholder Meeting of a proposal to provide for the right of a holder of Class B Ordinary Shares to convert such shares into Class A Ordinary Shares on a one-for-one basis at any time and from time to time prior to the closing of a Business Combination at the election of the holder, we issued an aggregate of 600,000 Class A Ordinary Shares to the Sponsors upon the conversion of an equal number of Class B Ordinary Shares held by the Sponsors as Founder Shares ( the “ 2023 Founder Share Conversion”).

On July 24, 2024, in