Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 167

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 167
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 Additional risks
could arise that may also affect our business or ability to consummate an initial Business Combination. We may disclose changes to such
risk factors or disclose additional risk factors from time to time in our future filings with the SEC.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.

Unregistered
Sales of Equity Securities

None.

Use
of Proceeds

For
a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part II, Item 2 of our Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2021, as filed with the SEC on November 23, 2021. There has been no
material change in the planned use of proceeds from our Initial Public Offering and Private Placement as described in the IPO Registration
Statement. The specific investments in our Trust Account may change from time to time.

On
October 19, 2023, we instructed Continental to liquidate the investments held in the Trust Account and instead to hold the funds in the
Trust Account in an interest-bearing demand deposit account at Citibank, N.A., with Continental continuing to act as trustee, until the
earlier of the consummation of our initial Business Combination or our liquidation. As a result, following the liquidation of investments
in the Trust Account, the remaining proceeds from the Initial Public Offering and Private Placement are no longer invested in U.S. government
securities or money market funds invested in U.S. government securities.

Item
3. Defaults Upon Senior Securities.

None.

Item
4. Mine Safety Disclosures.

Not
applicable.

29

Item
5. Other Information.

Trading
Arrangements

During
the quarterly period ended September 30, 2025, none of our directors or officers (as defined in Rule 16a-1(f) promulgated under the Exchange
Act) adopted or terminated any “Rule 10b5-1 trading arrangement” or any “non-Rule 10b5-1 trading arrangement,”
as each term is defined in Item 408 of Regulation S-K.

Additional
Information

Item
6. Exhibits.

The
following exhibits are filed as part of, or incorporated by reference into, this Report.

    No.
     
    Description
    of Exhibit
  
    31.1
     
    Certification of the Principal Executive Officer pursuant to Rule 13a-14(a) and Rule 15d