Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 111

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 in accordance with Section 3(a)(9) of the Securities Act or another exemption.

Redemption
of Warrants when the price per Class A Ordinary Share equals or exceeds $18.00. Once the Warrants become exercisable, the Company may
redeem the Warrants for redemption:

    ●
    in whole and
    not in part;

    ●
    at a price of $0.01 per
    Public Warrant;

    ●
    upon a minimum of 30 days’
    prior written notice of redemption, which is referred to as the 30-day redemption period; and

    ●
    if, and only if, the closing
    price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for share sub-divisions, share capitalizations,
    reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading
    day prior to the date on which the Company sends the notice of redemption to the warrant holders (the “Reference Value”).

The
Company will not redeem the Warrants as described above unless an effective registration statement under the Securities Act covering
the issuance of the Class A Ordinary Shares issuable upon exercise of the Warrants is then effective and a current prospectus relating
to those Class A Ordinary Shares is available throughout the 30-day redemption period. If and when the Warrants become redeemable by
the Company, the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities
for sale under all applicable state securities laws.

Redemption
of Warrants when the price per Class A Ordinary Shares share equals or exceeds $10.00. Once the Warrants become exercisable, the Company
may redeem the Warrants for redemption:

    ●
    in whole and
    not in part;

    ●
    at $0.10 per Warrant upon
    a minimum of 30 days’ prior written notice of redemption, provided that holders will be able to exercise their warrants on
    a cashless basis prior to redemption and receive the number of shares determined by reference to the table set forth under “Description
    of Securities - Warrants - Public Shareholders’ Warrants” in the IPO Registration Statement based on the redemption date
    and the “fair market value” of the Class A Ordinary Shares;

    ●
    if, and only if, the Reference
    Value equals