Company: CDAQF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001641172-25-000430
Chunk: 26

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 26
---
 will have at least $5,000,001 of net tangible assets following approval of the Third Extension Amendment Proposal, after taking into account the Third Extension Redemptions.

| 5 |

The Redemption Limitation Amendment Proposal is not conditioned on the approval of either the Auditor Ratification Proposal or the Adjournment Proposal; however, the Redemption Limitation Amendment Proposal is conditioned on the approval of the Third Extension Amendment Proposal.

The Auditor Ratification Proposal is not conditioned on the approval of the Third Extension Amendment Proposal, the Redemption Limitation Amendment Proposal or the Adjournment Proposal.

The Adjournment Proposal is not conditioned on the approval of the Third Extension Amendment Proposal, the Redemption Limitation Amendment Proposal or the Auditor Ratification Proposal. However, if any of the Third Extension Amendment Proposal, the Redemption Limitation Amendment Proposal or the Auditor Ratification Proposal are not approved by our shareholders, we may put the Adjournment Proposal to a vote in order to seek additional time to obtain sufficient votes in support of the Third Extension Amendment Proposal, the Redemption Limitation Amendment Proposal or the Auditor Ratification Proposal, as needed.

What vote is required to approve the Proposals?

The approval of each of the Third Extension Amendment Proposal and the Redemption Limitation Amendment Proposal requires a special resolution under Cayman Islands law, being the affirmative vote of a majority of at least two-thirds (2/3) of the votes cast by the holders of Ordinary Shares, voting as a single class, who, being entitled to do so, vote in person (including shareholders who vote online) or by proxy at the Meeting, or any adjournment thereof.

The approval of each of the Auditor Ratification Proposal and the Adjournment Proposal, if presented, requires an ordinary resolution under Cayman Islands law, being the affirmative vote of a simple majority of the votes cast by the holders of the Ordinary Shares present in person (including shareholders who vote online) or represented by proxy at the Meeting, or any adjournment thereof, and entitled to vote on such matter.

Following the Sponsor Handover, the Founder Share Conversions and the Prior Extension Redemptions (each as defined in the section of the Proxy Statement entitled “ Background”), our Sponsors, officers and directors collectively own 3,200,000 Class A Ordinary Shares and 2,110,122 Class B Ordinary Shares, or approximately 68.15% of the outstanding Ordinary Shares entitled to vote at the Meeting, and plan to vote all of the Founder Shares owned by them in favor of the Proposals. Assuming that our