Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 101

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 101
---
 (5)
months of the extension of the Combination Period from July 19, 2024 to December 19, 2024 pursuant to the 2024 Extension Amendment Proposal
and (ii) 82,498 Founder Shares held by the Sponsor per month, for each additional month of the extension of the Combination Period from
December 19, 2024 until April 19, 2025, as needed pursuant to the 2024 Extension Amendment Proposal, in connection with the closing of
the Business Combination, provided that (i) the investors did not exercise their redemption rights with respect to the 2024 Non-Redeemed
Shares in connection with the 2024 EGM and (ii) the 2024 Extension Amendment Proposal was approved.

In
connection with our entry into the 2024 Non-Redemption Agreements, we also agreed that, in the event of the liquidation of the Trust
Account, we will only utilize up to $50,000 of funds from the accrued interest of the Trust Account to pay any dissolution expenses if
we do not effect a Business Combination prior to the end of the Combination Period.

Registration
Rights

The
holders of the Founder Shares, Private Placement Warrants and any 2021 Note Warrants and 2024 Note Warrants (and in each case holders
of their underlying securities, as applicable) are entitled to registration rights pursuant to the Registration Rights Agreement, requiring
us to register such securities for resale (in the case of the Founder Shares, only after conversion to our Class A Ordinary Shares).
The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that we register
such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the consummation of a Business Combination and rights to require us to register for resale such securities pursuant
to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration statements.
On August 31, 2023, the Sponsor executed the Registration Rights Agreement Joinder in connection with the Sponsor Handover.

Insider
Letter

Our
Sponsors, Prior Directors and Officers, and directors and officers have entered into the Insider Letter, as amended by the Insider Letter
Amendment and the Second Insider Letter Amendment, with us, pursuant to which, they have waived their rights to liquidating distributions
from the Trust Account with respect