Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 55

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 Shareholders with the opportunity
to redeem their Public Shares in conjunction with any such amendment; (iii) not to redeem any Ordinary Shares (including the Founder
Shares) into the right to receive cash from the Trust Account in connection with a shareholder vote to approve a Business Combination
(or to sell any Ordinary Shares in a tender offer in connection with a Business Combination if we do not seek shareholder approval in
connection therewith) or a vote to amend the provisions of our Amended and Restated Charter relating to shareholders’ rights of
pre-Business Combination activity and (iv) that the Founder Shares shall not participate in any liquidating distributions upon winding
up if a Business Combination is not consummated. However, the Sponsors will be entitled to liquidating distributions from the Trust Account
with respect to any Public Shares purchased during or after the Initial Public Offering if we fail to complete our Business Combination.

If
we are unable to complete a Business Combination by April 20, 2026, the end of the Combination Period, unless our Combination Period
is further extended, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but
no 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 to pay taxes (less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares,
which redemption will completely extinguish Public Shareholder’s rights as shareholders (including the right to receive further
liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the remaining shareholders and our Board of Directors, proceed to commence a voluntary liquidation and thereby
a formal dissolution of our Company, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors
and the requirements of applicable law. In the event of such distribution, it is possible that the per share value of the assets remaining
available for distribution will be less than approximately $11.48 per Public Share (net of taxes paid or payable, as of June 30, 2025).

As
of June 30, 2025 and December 31, 2024, we held cash of $1,521 and $27