Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 44

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
 a cashless basis prior to redemption and receive the number of shares determined by reference to the table set
    forth under “Description of Securities - Warrants - Public Shareholders’ Warrants” in the IPO Registration Statement
    based on the redemption date and the “fair market value” of the Class A Ordinary Shares;

    ●
    if,
    and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for share sub-divisions, share capitalizations,
    reorganizations, recapitalizations and the like); and

    ●
    if
    the Reference Value is less than $18.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
    and the like), the Private Placement Warrants must also concurrently be called for redemption on the same terms (except as described
    herein with respect to a holder’s ability to cashless exercise its warrants) as the outstanding Public Warrants, as described
    above.

If
and when the Public Warrants become redeemable by the Company, the Company may not exercise its redemption right if the issuance of shares
of ordinary shares upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws
or the Company is unable to effect such registration or qualification.

The
exercise price and number of Class A Ordinary Shares issuable upon exercise of the Warrants may be adjusted in certain circumstances
including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. Additionally, in no event will
the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the
Combination Period and the Company liquidates the funds held in the Trust Account, holders of Warrants will not receive any of such funds
with respect to their Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account
with the respect to such Warrants. Accordingly, the Warrants may expire worthless. If the Company calls the Public Warrants for redemption,
Management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,”
as described in the Warrant Agreement. The exercise price and number of Ordinary Shares issuable upon exercise of the Public Warrants
may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization,
mer