Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 145

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 145
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Cautionary
Note Regarding Forward-Looking Statements

All
statements other than statements of historical fact included in this Quarterly Report on Form 10-Q for the quarterly period ended June
30, 2025 (this “Report”) including, without limitation, statements under this Item regarding our financial position, business
strategy and the plans and objectives of Management for future operations, are forward-looking statements. When used in this Report,
words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and
similar expressions, as they relate to us or our Management, identify forward-looking statements. Such forward-looking statements are
based on the beliefs of our Management, as well as assumptions made by, and information currently available to, our Management. Actual
results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in
our filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf
are qualified in their entirety by this paragraph.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the unaudited
condensed financial statements and the notes thereto included in this Report under “Item 1. Financial Statements”.

Overview

We
are a blank check company incorporated in the Cayman Islands on March 8, 2021, formed for the purpose of effectuating a Business Combination.
We are an early-stage and emerging growth company and, as such, are subject to all of the risks associated with early-stage and emerging
growth companies.

We
will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest. We will generate
non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering and the Private Placement.

We
completed our Initial Public Offering of 20,000,000 Units, each Unit consisting of one Public Share and one-third of one Public Warrant,
at $10.00 per Unit on October 19, 2021. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $200
million. Certain Institutional Anchor Investors that are not affiliated with us, our Legacy Sponsor and certain of our prior directors
and officers purchased 20,000,000 Units sold in the Initial Public Offering.

Simultaneously
with the closing of the Initial Public Offering and pursuant to the Private Placement Warrants Purchase Agreement, we