Company: CDAQF
Filing Date: 2025-03-13
Form Type: PRE 14A
Source: 0001493152-25-010116
Chunk: 65

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-13
Form: PRE 14A
Chunk 65
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 of the Third Extension Amendment Proposal, we will not be able to complete the Business Combination on or before the Second Extended Date. If that were to occur, as contemplated by and in accordance with the Amended and Restated Charter, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to us (less taxes payable and up to $50,000 of interest to pay dissolution expenses), divided by the number of then Public Shares in issue, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and the Board, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. There will be no redemption rights or liquidating distributions with respect to our Warrants, which will expire worthless if we fail to complete a Business Combination within the Combination Period. In the event of a liquidation, our Sponsors and our officers and directors will not receive any monies held in the Trust Account as a result of their ownership of the Founder Shares or the Private Placement Warrants. As a consequence, a liquidating distribution will be made only with respect to the Public Shares.

As contemplated by the Amended and Restated Charter, Public Shareholders may elect to redeem all or a portion of their Public Shares in exchange for their pro rata portion of the funds held in the Trust Account in the Third Extension Redemptions if the Third Extension Amendment Proposal is approved.

On , the redemption price per Public Share was approximately $ (which is expected to be the same approximate amount two business days prior to the Meeting), based on the aggregate amount on deposit in the Trust Account of $ as of (including interest not previously released to us to pay our taxes), divided by the total number of then outstanding Public Shares. The closing price of the Class A Ordinary Shares on the OTC Pink Market on was $ . We cannot assure shareholders that they will be able to sell their Class A Ordinary Shares in the open