Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 446

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 446
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 Offering purchased an additional 1,240,488 Over-Allotment Units pursuant
to the partial exercise of the Over-Allotment Option. The Over-Allotment Units were sold at an offering price of $10.00 per Over-Allotment
Unit, generating aggregate additional gross proceeds of $12,404,880.

On
November 30, 2021, in connection with the partial exercise of the Over-Allotment Option, our Legacy Sponsor surrendered 439,878 Founder
Shares. Also, in connection with the partial exercise of the Over-Allotment Option, the Legacy Sponsor purchased an additional 165,398
Private Placement Warrants at a purchase price of $1.50 per whole Private Placement Warrant. The Private Placement Warrants are identical
to the Public Warrants sold in the Initial Public Offering, except that the Private Placement Warrants, so long as they are held by our
Legacy Sponsor or its permitted transferees, (i) will not be redeemable by us, (ii) may not (including the Class A Ordinary Shares issuable
upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders
until 30 days after the completion of our initial Business Combination, (iii) may be exercised by the holders on a cashless basis and
(iv) are entitled to registration rights. The Private Placement Warrants may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder. If we do not complete our initial Business Combination by the end of the Combination Period, the Private
Placement Warrants will expire worthless. The Private Placement Warrants are subject to the transfer restrictions described below.

50

The
Institutional Anchor Investors are members in, but are not affiliates of, our Legacy Sponsor. The Institutional Anchor Investors indicated
an interest in purchasing Units sold in our Initial Public Offering and each held an indirect beneficial interest in certain Founder
Shares (and one of whom, had an indirect beneficial interest in certain Private Placement Warrants). None of those funds or accounts
is a managing member of our Legacy Sponsor, nor do they have any management authority with respect to our Legacy Sponsor. Unlike the
other participants in the Legacy Sponsor, the Institutional Anchor Investors are not subject to any lockup restriction on the transfer
of their Ordinary Shares and are not subject to forfeiture or adjustment with respect to their Founder Shares received in connection
with their purchase of Units in the Initial Public