Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 828

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 828
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November 30, 2021, the Company consummated the sale of an additional 1,240,488 Units, at $10.00 per Unit, and the sale of an additional
165,398 Private Placement Warrants, at $1.50 per Private Placement Warrant, generating total gross proceeds of $12,404,880 and $248,097,
respectively. The underwriters forfeited the balance of the Over-Allotment Option. A total of $12,404,880 of the net proceeds was deposited
into the Trust Account, bringing the aggregate proceeds held in the Trust Account to $212,407,824, including $2,944 in interest. The
Company incurred additional offering costs of $682,269 in connection with the exercise of the Over-Allotment Option (of which $434,171
was for deferred underwriting fees). On August 11, 2023 and August 14, 2023, the underwriters informed the Company of their decision
to waive their rights to the deferred underwriting commission held in the Trust Account.

NOTE
4 - PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Legacy Sponsor purchased 4,666,667 Private Placement Warrants at a price of $1.50
per Private Placement Warrant, generating total proceeds of $7,000,000 to the Company. Substantially concurrently with the closing of
the Private Placement, the Institutional Anchor Investors paid the Legacy Sponsor $280,000 for the transfer of an aggregate of 186,667
Private Placement Warrants, which transfer will take place upon the closing of the initial Business Combination. 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.

Each
Private Placement Warrant is identical to the Public Warrants, except there are no redemption rights or liquidating distributions from
the Trust Account with respect to Private Placement Warrants, which will expire worthless if the Company does not consummate a Business
Combination within the Combination Period.

NOTE
5 - RELATED PARTY TRANSACTIONS

Founder
Shares

On
March 9, 2021, the Company issued an aggregate of 5,750,000 Class B Ordinary Shares (the “Founder Shares”) to the Legacy
Sponsor for an aggregate purchase price of $25,000