Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 158

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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concern.

Contractual
Obligations

Administrative
Services Agreement

Commencing
on October 14, 2021, and until completion of the Company’s initial Business Combination or liquidation, the Company may reimburse
the Sponsors up to an aggregate amount of $10,000 per month for office space and secretarial and administrative support pursuant to the
Administrative Services Agreement. Per the Administrative Services Agreement, it is at the Company’s option as to whether or not
to pay this administrative fee. The Legacy Sponsor assigned the Administrative Services Agreement to the Sponsor on August 31, 2023,
in connection with the Sponsor Handover. For the three and nine months ended September 30, 2025, the total administrative expenses were
$30,000 and $90,000, respectively. There was $30,000 and $90,000 paid for the three and nine months ended September 30, 2024, respectively.
As of September 30, 2025 and December 31, 2024, there was $250,000 and $160,000, respectively, accrued, but not paid.

Registration
Rights

The
holders of the Founder Shares, Private Placement Warrants and any 2021 Note Warrants and 2024 Note Warrants (and in each case holders
of their underlying securities, as applicable) are entitled to registration rights pursuant to the Registration Rights Agreement, requiring
us to register such securities for resale (in the case of the Founder Shares, only after conversion to our Class A Ordinary Shares).
The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that we register
such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the consummation of a Business Combination and rights to require us to register for resale such securities pursuant
to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration statements.
On August 31, 2023, the Sponsor executed the Registration Rights Agreement Joinder in connection with the Sponsor Handover.

Underwriting
Agreement

In
connection with the Initial Public Offering, the underwriters were granted the Over-Allotment Option to purchase up to 3,000,000 Over-Allotment
Units, if any. On November 30, 2021, the underwriters purchased an additional 1,