Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 16

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 portion of the funds in the Trust Account
(the “2023 Redemptions”). As a result, approximately $169.1 million (approximately $10.54 per share) was removed from the
Trust Account to pay such holders.

On
July 18, 2024, the Company held an extraordinary general meeting of shareholders in lieu of an annual general meeting of shareholders
(the “2024 EGM”) to approve, among other things, a proposal to amend the Amended and Restated Charter to extend the date
by which the Company must consummate an initial Business Combination from July 19, 2024 to December 19, 2024, and then on a monthly basis
up to four (4) times until April 19, 2025 (or such earlier date as determined by the Board of Directors (the “2024 Extension Amendment
Proposal”).

In
connection with the vote to approve the 2024 Extension Amendment Proposal, Public Shareholders holding 2,713,143 Public Shares (after
giving effect to withdrawals of redemptions) exercised their right to redeem such shares for a pro rata portion of the funds in the Trust
Account (the “2024 Redemptions”). As a result of the 2024 Redemptions, approximately $29.6 million (approximately $10.92
per share) was removed from the Trust Account to pay such holders.

On
April 16, 2025, the Company held an extraordinary general meeting of shareholders in lieu of an annual general meeting of shareholders
(the “2025 EGM”) to approve, among other things, a proposal to amend the Amended and Restated Charter to extend the date
by which the Company must consummate an initial Business Combination from April 19, 2025 to April 20, 2026 (or such earlier date as determined
by the Board of Directors (the “2025 Extension Amendment Proposal”).

In
connection with the vote to approve the 2025 Extension Amendment Proposal, Public Shareholders holding 2,370,619 Public Shares (after
giving effect to withdrawals of redemptions) exercised their right to redeem such shares for a pro rata portion of the funds in the Trust
Account (the “2025 Redemptions”). As a result of the 2025 Redemptions, approximately $26.7 million (approximately $11.25
per share) was removed from the Trust Account to pay such holders.

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