Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 134

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 134
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TO FINANCIAL STATEMENTS

NOTE
3 - INITIAL PUBLIC OFFERING

On
October 19, 2021, the Company sold 20,000,000 Units at a purchase price of $10.00 per Unit, generating gross proceeds of $200,000,000,
and incurring offering costs of $11,929,189, consisting of $4,000,000 of underwriting fees, $7,000,000 of deferred underwriting fees
and $929,189 of other offering costs. Each Unit consists of one Public Share and one-third of one Public Warrant. Each whole Public Warrant
entitles the holder to purchase one Class A Ordinary Share at an exercise price of $11.50 per whole share.

The
Institutional Anchor Investors purchased an aggregate of 20,000,000 Units at the offering price of $10.00 per Unit.

The
underwriters notified the Company of their intention to partially exercise the Over-Allotment Option on November 30, 2021. As such, on
November 30, 2021, the Company consummated the sale of an additional 1,240,488 Units, at $10.00 per Unit, and the sale of an additional
165,398 Private Placement Warrants, at $1.50 per Private Placement Warrant, generating total gross proceeds of $12,404,880 and $248,097,
respectively. The underwriters forfeited the balance of the Over-Allotment Option. A total of $12,404,880 of the net proceeds was deposited
into the Trust Account, bringing the aggregate proceeds held in the Trust Account to $212,407,824, including $2,944 in interest. The
Company incurred additional offering costs of $682,269 in connection with the exercise of the Over-Allotment Option (of which $434,171
was for deferred underwriting fees). On August 11, 2023 and August 14, 2023, the underwriters informed the Company of their decision
to waive their rights to the deferred underwriting commission held in the Trust Account.

NOTE
4 - PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Legacy Sponsor purchased 4,666,667 Private Placement Warrants at a price of $1.50
per Private Placement Warrant, generating total proceeds of $7,000,000 to the Company. Substantially concurrently with the