Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 43

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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”). If a registration statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective
by the 60th business day after the closing of a Business Combination, warrant holders may, until such time as there is an effective registration
statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants
on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption.

Redemption
of Warrants when the price per Class A Ordinary Share equals or exceeds $18.00. Once the Warrants become exercisable, the Company may
redeem the Warrants for redemption:

    ●
    in
    whole and not in part;

    ●
    at
    a price of $0.01 per Public Warrant;

    ●
    upon
    a minimum of 30 days’ prior written notice of redemption, which is referred to as the 30-day redemption period; and

    ●
    if,
    and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for share sub-divisions,
    share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
    on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders (the “Reference
    Value”).

The
Company will not redeem the Warrants as described above unless an effective registration statement under the Securities Act covering
the issuance of the Class A Ordinary Shares issuable upon exercise of the Warrants is then effective and a current prospectus relating
to those Class A Ordinary Shares is available throughout the 30-day redemption period. If and when the Warrants become redeemable by
the Company, the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities
for sale under all applicable state securities laws.

Redemption
of Warrants when the price per Class A Ordinary Shares share equals or exceeds $10.00. Once the Warrants become exercisable, the Company
may redeem the Warrants for redemption:

    ●
    in
    whole and not in part;

    ●
    at
    $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption, provided that holders will be able to exercise
    their warrants on