Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 149

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 149
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 are identical to the Public Warrants included in the Units sold in the Initial Public Offering, except that
the Private Placement Warrants are not and the Ordinary Shares issuable upon the exercise of the Private Placement Warrants are not transferable,
assignable or saleable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally,
the Private Placement Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers
or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted
transferees, the Private Placement Warrants are redeemable by the Company and exercisable by such holders on the same basis as the Public
Warrants.

NOTE
8 - CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

The
Class A Ordinary Shares feature certain redemption rights that are considered to be outside of the Company’s control and subject
to the occurrence of future events. The Company is authorized to issue 200,000,000 Class A Ordinary Shares with a par value of $0.0001
per share. Holders of the Class A Ordinary Shares are entitled to one vote for each share. As of December 31, 2024 and 2023, there were
5,681,485 and 5,794,628 Class A Ordinary Shares outstanding, respectively, of which 2,481,485 and 5,194,628, respectively, were subject
to possible redemption and classified outside of permanent equity in the Company’s balance sheets.

The
reconciliation of Class A Ordinary Shares subject to possible redemption is as follows.

 SCHEDULE OF CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION 

    Class A Ordinary Shares subject to possible redemption at December 31, 2022 
    $215,521,445 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     1,726,802 
  
    Waiver of Class A Ordinary Shares issuance costs 
     7,187,357 
  
    Less: 

    Redemption of Class A Ordinary Shares 
     (169,088,048)
  
    Class A Ordinary Shares subject to possible redemption at December 31, 2023 
     55,347,556 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption value 
     1