Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 12

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 12
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 date of the Closing; (v) absence of any Material Adverse Effect with respect to our Company since the date of the EEW Business Combination
Agreement, which is continuing and uncured; and (vi) the Second Insider Letter Amendment being in full force and effect in accordance
with the terms thereof as of the Closing with respect to the parties thereto.

In
addition, unless waived by EEW, Pubco and the Seller Representative, the obligations of EEW, Pubco, Merger Sub and the Sellers to consummate
the EEW Business Combination are also subject to a minimum cash condition requiring that at Closing, our Company and Pubco (and with
respect to transaction financing, EEW and its subsidiaries, including certain bridge financing) collectively must have an aggregate amount
of cash and cash equivalents (including funds remaining in the trust account after giving effect to the Closing Redemption), prior to
the payment of any transaction expenses or liabilities of the parties other than transaction financing costs and director and officer
tail insurance premiums, equal to or exceeding (i) $15 million as of the Closing when taking into account only Additional Capital proceeds
actually received at or prior to the Closing and (ii) $25 million when taking into account any other Additional Capital, including Additional
Capital that the parties reasonably expect to become available after the Closing.

Unless
waived by our Company, our obligations to consummate the EEW Business Combination are subject to the satisfaction of the following Closing
conditions, in addition to customary certificates and other closing deliveries: (i) the representations and warranties of (a) Pubco and
Merger Sub relating to organization and standing, authorization and binding effect, capitalization, finders and brokers, and (b) EEW
relating to organization and standing, authorization and binding effect, capitalization, and finders and brokers, and (c) the Sellers
relating to organization and standing, authorization and binding effect, ownership and finders and brokers being, in each case, true
and correct in all material respects as of the date of the EEW Business Combination Agreement and as of the Closing; (ii) the representations
and warranties of EEW relating to absence of certain changes being true and correct in all respects as of the date of the EEW Business
Combination Agreement and as of the Closing; (iii) all other representations and warranties of EEW, Pubco, Merger Sub and the Sellers
being true and correct as of the date of the EEW Business