Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 675

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 3
Chunk 675
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50 per share, at a price of $1.50 per whole Private Placement Warrant, or $7,000,000 in the aggregate (or $7,600,000 if the Over-Allotment
Option was exercised in full), in the Private Placement, which occurred concurrently with the closing of the Initial Public Offering.
On November 30, 2021, the underwriters of the Initial Public Offering 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.

On
November 30, 2021, in connection with the partial exercise of the Over-Allotment Option, our Legacy Sponsor surrendered 439,878 Founder
Shares. Also, in connection with the partial exercise of the Over-Allotment Option, the Legacy Sponsor purchased an additional 165,398
Private Placement Warrants at a purchase price of $1.50 per whole Private Placement Warrant. The Private Placement Warrants are identical
to the Public Warrants sold in the Initial Public Offering, except that the Private Placement Warrants, so long as they are held by our
Legacy Sponsor or its permitted transferees, (i) will not be redeemable by us, (ii) may not (including the Class A Ordinary Shares issuable
upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders
until 30 days after the completion of our initial Business Combination, (iii) may be exercised by the holders on a cashless basis and
(iv) are entitled to registration rights. The Private Placement Warrants may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder. If we do not complete our initial Business Combination by the end of the Combination Period, the Private
Placement Warrants will expire worthless. The Private Placement Warrants are subject to the transfer restrictions described below.

50

The
Institutional Anchor Investors are members in, but are not affiliates of, our Legacy Sponsor. The Institutional Anchor Investors indicated
an interest in purchasing Units sold in our Initial Public Offering and each held an indirect beneficial interest in certain Founder
Shares (and one of whom, had an indirect beneficial interest in certain Private Placement Warrants). None of those