Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 827

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 827
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 require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief
operating decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure
of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how
the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources.
Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with
a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures
in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 as required for the year ended December 31, 2024.
The adoption requires the Company to provide additional disclosures, but otherwise it does not materially impact the financial statements.

Management
does not believe that any other recently issued, but not yet effective, accounting standards updates, if currently adopted, would have
a material effect on the accompanying financial statements.

    F-15

COMPASS
DIGITAL ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

NOTE
3 - INITIAL PUBLIC OFFERING

On
October 19, 2021, the Company sold 20,000,000 Units at a purchase price of $10.00 per Unit, generating gross proceeds of $200,000,000,
and incurring offering costs of $11,929,189, consisting of $4,000,000 of underwriting fees, $7,000,000 of deferred underwriting fees
and $929,189 of other offering costs. Each Unit consists of one Public Share and one-third of one Public Warrant. Each whole Public Warrant
entitles the holder to purchase one Class A Ordinary Share at an exercise price of $11.50 per whole share.

The
Institutional Anchor Investors purchased an aggregate of 20,000,000 Units at the offering price of $10.00 per Unit.

The
underwriters notified the Company of their intention to partially exercise the Over-Allotment Option on November 30, 2021. As such, on