Company: CDAQF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001641172-25-000430
Chunk: 50

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 50
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 holder to purchase one share of Class A Common Stock at an exercise price of $11.50 per share. The Warrants will become exercisable 30 days after the completion of our initial Business Combination and expire five years after the completion of our initial Business Combination or earlier upon redemption or liquidation. Once the Warrants become exercisable, we may redeem the outstanding Warrants at a price of $0.01 per Warrant, if the last sale price of the Class A Ordinary Shares equals or exceeds $18.00 per share for any 20 trading days within a 30 trading day period ending on the third business day before we send the notice of redemption to the warrant holders. The Private Placement Warrants, however, are non-redeemable so long as they are held by the Sponsors or their permitted transferees.

In March 2021, an affiliate of our Prior Sponsor covered certain of our offering costs in the IPO in exchange for an aggregate of 5,750,000 shares of our Class B Ordinary Shares, which were subsequently transferred to the Prior Sponsor. In addition, the Prior Sponsor purchased 4,666,667Private Placement Warrants in the Private Placement. Concurrently with the closing of the Private Placement,c ertain institutional anchor investors that are not affiliated with us(the “ Institutional Anchor Investors”) purchased Units in the IPO. The Institutional Anchor Investors also (i) paid the Prior 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 and (ii)purchased a portion of the equity interests of the Prior Sponsor at the original purchase price. On November 30, 2021, in connection with the partial exercise of the IPO underwriters’ over-allotment option, the Prior Sponsor (i) surrendered 439,878 Founder Shares and (ii) purchased an additional 165,398 Private Placement Warrants.

As of March 21, 2025, approximately $27.85 million from our IPO and the Private Placement is being held in our Trust Account in the United States maintained by Continental, acting as trustee. Initially, these funds were invested in U.S. “government securities”, within the meaning of Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by us meeting the conditions of Rule 2a-7 of the Investment Company Act