Company: CDAQF
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010268
Chunk: 10

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
---
 Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination;
(ii) not to propose an amendment to the Amended and Restated Charter with respect to the Company’s pre-Business Combination activities
prior to the closing of a Business Combination unless the Company provides dissenting public shareholders with the opportunity to redeem
their Public Shares in conjunction with any such amendment; (iii) not to redeem any 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 shares
in a tender offer in connection with a Business Combination if the Company does not seek shareholder approval in connection therewith)
or a vote to amend the provisions of the 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 the Company fails to complete its Business Combination.

If the Company is unable to complete a Business Combination
by April 19, 2026 (the “Combination Period”), the Company 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 subject to lawfully available funds therefor,
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 the Company (less taxes payable and 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 Shareholders’ 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 the Company’s board of directors (the “Board of Directors”), liquidate and dissolve, subject in each case to its
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