Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 982

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 6
Chunk 982
---
ively, and there was $120,000 expenses incurred during the years ending December 31, 2024 and 2023. The Legacy Sponsor assigned
the Administrative Services Agreement to our Sponsor on August 31, 2023 in connection with the Sponsor Handover.

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 1,240,488 Over-Allotment Units pursuant to the partial
exercise of the Over-Allotment Option. The Over-Allotment Units were sold at an offering price of $10.00 per Over-Allotment Unit, generating
aggregate additional gross proceeds of $12,404,880 to us.

34

The
underwriters of the Initial Public Offering were entitled to a cash underwriting discount of 2.00% of the gross proceeds of the
Initial Public Offering, or $4,000,000 (or $4,600,000 if the Over-Allotment Option was exercised in full) pursuant to the Underwriting Agreement. In addition, the
underwriters were entitled to a deferred fee of three and half percent (3.50%) of the gross proceeds of the Initial Public Offering,
or $7,000,000 (or