Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 46

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 the initial purchasers or their permitted
transferees, the Private Placement Warrants are redeemable by the Company and exercisable by such holders on the same basis as the Public
Warrants.

NOTE
8 - CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

The
Class A Ordinary Shares feature certain redemption rights that are considered to be outside of the Company’s control and subject
to the occurrence of future events. The Company is authorized to issue 200,000,000 Class A Ordinary Shares with a par value of $0.0001
per share. Holders of the Class A Ordinary Shares are entitled to one vote for each share. As of September 30, 2025 and December 31,
2024, there were 3,310,866 and 5,681,485 Class A Ordinary Shares outstanding, respectively, of which 110,866 and 2,481,485, respectively,
shares were subject to possible redemption and classified outside of permanent equity in the Company’s condensed balance sheets.

The
reconciliation of Class A Ordinary Shares subject to possible redemption is as follows:

 SCHEDULE OF CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

    Class A Ordinary Shares subject to possible redemption at December 31, 2023 
    $55,347,556 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     1,928,109 
  
    Less: 

    Redemption of Class A Ordinary Shares 
     (29,638,365)
  
    Class A Ordinary Shares subject to possible redemption at December 31, 2024 
     27,637,300 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     242,531 
  
    Class A Ordinary Shares subject to possible redemption at March 31, 2025 
     27,879,831 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     81,044 
  
    Less: 

    Redemption of Class A Ordinary Shares 
     (26,688,615)
  
    Class A Ordinary Shares subject to possible redemption at June 30, 2025 
     1,272,260 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     11,298 
  
    Class A Ordinary Shares subject to possible redemption at September