Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 148

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 148
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 tender offer rules, our Amended
and Restated Charter provides that, a Public Shareholder, together with any affiliate of such Public Shareholder or any other person
with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be
restricted from seeking redemption rights with respect to more than an aggregate of 15% of the Public Shares without our prior written
consent.

In
connection with such vote, the Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount
then in the Trust Account ($11.14 per share as of December 31, 2024, net of taxes paid and payable). There will be no redemption rights
upon the completion of a Business Combination with respect to Warrants. These Class A Ordinary Shares have been recorded at a redemption
value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with FASB ASC Topic 480 “Distinguishing
Liabilities from Equity” (“ASC 480”).

If
a shareholder vote is not required and we do not decide to hold a shareholder vote for business or other legal reasons, we will, pursuant
to our Amended and Restated Charter, offer such redemption pursuant to the tender offer rules of the SEC, and file tender offer documents
containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination.

Each
of our Sponsors has agreed (i) to vote its Founder Shares and any Public Shares purchased during or after the Initial Public Offering
in favor of a Business Combination, (ii) not to propose an amendment to our Amended and Restated Charter with respect to our pre-Business
Combination activities prior to the closing of a Business Combination unless we provide dissenting Public Shareholders with the opportunity
to redeem their Public Shares in conjunction with any such amendment; (iii) not to redeem any Ordinary Shares (including the Founder
Shares) into the right to receive cash from the Trust Account in connection with a shareholder vote to approve a Business Combination
(or to sell any Ordinary Shares in a tender offer in connection with a Business Combination if we do not seek shareholder approval in
connection therewith) or a vote to amend the provisions of our Amended and Restated Charter relating to shareholders’ rights of
pre-Business Combination activity and (iv) that the Founder Shares shall not participate in any liquidating distributions upon winding
up