Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 112

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 agreed that as soon as practicable, but in no event later than 15 business days, after the closing of a Business Combination,
it will use its commercially reasonable efforts to file with the SEC a post-effective amendment to the IPO Registration Statement or
a new registration statement covering the registration, under the Securities Act of the Class A Ordinary Shares issuable upon exercise
of the Public Warrants. The Company will use its commercially reasonable efforts to cause such registration statement to become effective
and to maintain a current prospectus relating to those Class A Ordinary Shares until the Warrants expire or are redeemed, as specified
in the warrant agreement, dated October 14, 2021, that the Company entered into with Continental, as warrant agent (the “Warrant
Agreement”). If a registration statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective
by the 60th business day after the closing of a Business Combination, warrant holders may, until such time as there is an effective registration
statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants
on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption.

Redemption
of Warrants when the price per Class A Ordinary Share equals or exceeds $18.00. Once the Warrants become exercisable, the Company may
redeem the Warrants for redemption:

    ●
    in
    whole and not in part;

    ●
    at
    a price of $0.01 per Public Warrant;

    ●
    upon
    a minimum of 30 days’ prior written notice of redemption, which is referred to as the 30-day redemption period; and

    ●
    if,
    and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for share sub-divisions,
    share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
    on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders (the “Reference
    Value”).

The
Company will not redeem the Warrants as described above unless an effective registration statement under the Securities Act covering
the issuance of the Class A Ordinary Shares issuable upon exercise of the Warrants is then effective and a current prospectus relating
to