Company: CDAQF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001641172-25-000430
Chunk: 55

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 55
---
 Conversions, see the 2024 Annual Report.

Trading of Our Securities

On October 15, 2024 we received a letter from the Listing Qualifications Department of Nasdaq, which stated that the staff of The Nasdaq Stock Market LLC( “ Nasdaq” and its staff, the “ Nasdaq Staff”) had determined that (i) our securities would be delisted from Nasdaq, (ii) trading of our Class A Ordinary Shares, Public Warrants, and Units would be suspended at the opening of business on October 22, 2024 and (iii) a Form 25-NSE would be filed with the SEC, which would remove our securities from listing and registration on Nasdaq. Under Nasdaq listing rules, a SPAC must complete one or more business combinations within 36 months of the effectiveness of its initial public offering registration statement. Since we failed to complete a Business Combination by October 14, 2024, the Nasdaq Staff concluded that we did not comply with such requirement and our securities were subject to delisting. On October 22, 2024, the listing of our securities on Nasdaq was suspended and on March 5, 2025, Nasdaq filed the Form 25-NSE to delist our securities from Nasdaq.

Following the suspension of trading on Nasdaq, our Class A Ordinary Shares, Public Warrants, and Units are quoted on the OTC Pink Market under the symbols “CDAQF,” “CDAWF” and “CDAUF,” respectively.

We remain a reporting entity under the Exchange Act with respect to continued disclosure of financial and operational information.

| 23 |

EEW Business Combination

On September 5, 2024, we entered into the EEW Business Combination Agreement with the Purchaser Representative, EEW, the Sellers, the Seller Representative and, upon execution of joinders thereto, Pubco and Merger Sub.

Pursuant to the EEW Business Combination Agreement, subject to the terms and conditions set forth therein, at the Closing, (i) Merger Sub will merge with and into our Company, with our Company continuing as the surviving entity, and as a result of the Merger, (x) we shall become a wholly-owned subsidiary of Pubco, and (y) each issued and outstanding security of our Company immediately prior to the Effective Time (as defined in the EEW Business Combination Agreement) shall no longer be outstanding and shall automatically be cancelled, in exchange for the right of the holder thereof to receive